Pakistan Engages IMF for Expanded Financial Program, Says Finance Minister

Islamabad, Pakistan’s Finance Minister Muhammad Aurangzeb announced that the country has initiated discussions with the International Monetary Fund (IMF) regarding a larger and extended financial program. The announcement was made during a meeting with Citibank officials in Washington DC, where Aurangzeb highlighted recent positive economic indicators and ongoing financial reforms.

According to Ministry of Information and Broadcasting, the Finance Minister detailed several key achievements, including the timely repayment of a Eurobond and the positive impact of the Stand-by Arrangement (SBA) previously signed with the IMF. These developments have led to a rising stock market and renewed interest from foreign buyers and institutional investors. Aurangzeb also outlined the government’s focus on priority areas, such as taxation reforms, an overhaul of the energy sector, and reforms in state-owned enterprises, which are integral to the discussions with the IMF.