IMF postpones Pakistan 6th revision to revive 6 billion grant program
The meeting was postponed at the request of Pakistani authorities, officials said. The meeting is expected to be in late January.
In December 2021, the PTI government introduced the Finance (Extra) 2021 Bill, called the Minimum Budget Amendment Bill, and the State Bank 2021 Amendment Bill to the National Assembly, using the previous IMF rules set by the National Assembly. renewal of its $ 6 billion loan plan.
Pakistan received a loan in 2019, but it has been suspended since March 2021.
Parliament's approval of the bill will enable the government to generate an additional R343 million, especially through the abolition of sales tax on about 150 items.
"The board meeting to review and approve the 6th review under the EFF (Extended Fund Facility) is being postponed at the request of the authorities," Esther Perez Ruiz, IMF representative in Pakistan, told the Arab News on Monday.
he added. "A new day is yet to be determined,"
Pakistan's finance ministry said earlier in the day that it had asked the IMF to reschedule the meeting later this month.
"The Pakistani government has introduced both laws in the National Assembly and the IMF has submitted a 6-step proposal to its board for consideration on January 12," the statement said.
"As soon as the legal process is completed, the IMF board will consider it for approval."
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