The International Monetary Fund (IMF) would send its delegation to Pakistan in November for the economic review of the $3 billion stand-by arrangement (SBA).

Sources told ProPakistani that the caretaker government would hold talks with the IMF delegation. Pakistan would be able to unlock a tranche of $700 million if the review is successful.

The review would focus on the country’s economic performance and goals set under the stand-by agreement for the period from July to September 2023.

The delegation would be briefed on Pakistan’s efforts to control the circular debt in the power and gas sector. The IMF delegation would also be updated about the revenue measures taken to achieve the tax collection target set for the current fiscal year (FY24). The monetary and fiscal policies would also come under discussion.

Pakistan’s progress on the petroleum levy collection target of Rs. 859 billion for FY24 would also be discussed and the IMF delegation would be updated on collection figures till September.

Back in July, the IMF Executive Board approved a 9-month stand-by arrangement for Pakistan for an amount of SDR2,250 million (about $3 billion) to support the authorities’ economic stabilization program.

The Executive Board’s approval resulted in an immediate disbursement of SDR894 million (about $1.2 billion). The remaining amount would be phased over the program’s duration, subject to two quarterly reviews.

Source: Pro Pakistani