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Meeting reviews progress on reforms

Islamabad, March 27, 2017 (PPI-OT): Finance Minister, Senator Mohammad Ishaq Dar, chaired a meeting here on Monday to review the economic indicators as well as progress on various economic reforms, in the context of Article – IV consultations between the Government of Pakistan and the IMF, scheduled to commence in Dubai on 28th March, 2017. The Finance Minister will join the Pakistan delegation later to participate in the final stage of the consultations.

Finance Secretary briefed the meeting regarding the preparations for the week-long consultations. He also provided an update on measures undertaken for strengthening the reforms process. The Finance Minister expressed the hope that the two sides would have a constructive round of discussions as had been the case during the preceding quarterly review meetings. He urged that the progress Pakistan has achieved in the sphere of economic reforms should be fully projected during the consultations.

He said that the reforms have enabled the country to achieve macro-economic stability, and the implementation of key structural reforms needs to be continued in order to foster higher, more inclusive and sustainable economic growth. It may be recalled that IMF Executive Board completed the 12th and final review of an Extended Fund Facility (EFF) program for Pakistan last September which led to the disbursement of the final tranche.

IMF’s close engagement with Pakistan is continuing through policy dialogue in the context of regular consultations and post-program monitoring. During the consultations in Dubai, a detailed review of reforms carried out by Pakistan in different areas of the economy, particularly the energy sector, would be undertaken. The meeting was attended by senior officials of the Ministry of Finance, Ministry of Water and Power, Ministry of Petroleum and Natural Resources, Aviation Division, FBR and the Privatization Commission.

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