The International Monetary Fund has held constructive discussions with Pakistani authorities on their economic policy and reform efforts to reduce vulnerabilities and lay the basis for stronger and sustainable growth.

This was stated in a statement issued by the IMF mission head Nathan Porter on the conclusion of their visit to Pakistan. The two sides agreed with the need to continue prudent fiscal and monetary policies, revenue mobilization from untapped tax bases, while transferring greater social and development responsibilities to provinces.

The statement further said structural energy reforms and constructive efforts are critical to restore the sector’s viability. Its strong program implementation can create a more prosperous and more inclusive Pakistan, improving living standards for all Pakistanis.

Nathan Porter said the mission is encouraged by the authorities’ reaffirmed commitment to the economic reforms supported by the 2024 Extended Fund Facility. The next mission associated with the first Extended Fund Facility review is expected in the first quarter of the next year.

During the visit, the IMF team met with senior officials from federal and provincial governments and the State Bank, as well as representatives from the private sector. Staff visits are a standard practice for countries with semi-annual program reviews and aim to engage with the authorities and other stakeholders on the country’s economic developments and policies and the status of planned reforms.