IMF tepid to Pak interim govt proposals

Islamabad : The International Monetary Fund (IMF) has not immediately endorsed Pakistan interim government’s proposals to reduce industrial electricity prices, settle over one-fifth of the circular debt and make the Rs 268 billion debt of the Pakistan International Airline (PIA) part of the public debt, media reported.

The IMF also asked as to why the interim government is showing haste when the Election Commission of Pakistan (ECP) has already barred it from taking any decisive action on the privatisation of PIA, according to government sources, Express Tribune reported.

The global lender sought more details about the economic and legal viability of the three major proposals. The IMF held two back-to-back virtual meetings but their outcomes were below the expectations of the Pakistani authorities.

The next round of discussions on these proposals would take place after the Pakistani authorities provide additional information and the global lender reviews it internally.

The IMF neither rejected nor accepted the three proposals. It emerged from these two meetings that the IMF would give more serious thoughts to them once an elected government takes charge, Express Tribune reported.

The caretaker government is keen on getting the three proposals implemented before leaving the office. The meetings took place on the request of Pakistani authorities just three days before the general elections scheduled for this Thursday, Express Tribune reported.