Pakistan Receives No Deadline from IMF for External Financing Approval

Pakistan has not been given any deadline by the International Monetary Fund (IMF) for the approval of external financing, according to sources. This development emerged following a virtual meeting between the Ministry of Finance and the IMF mission, where external financing details were discussed.

During the meeting, officials from the Federal Board of Revenue (FBR) joined in to address concerns regarding the revenue shortfall. The Ministry of Finance updated the IMF mission on the progress of rolling over loans and securing new financing arrangements from friendly countries.

The ministry has provided a timeline, indicating that the loan rollovers will be completed by next week. Sources revealed that the IMF has emphasized the importance of completing the $12 billion loan rollover before seeking approval from its Executive Board. Additionally, the IMF has urged Pakistan to address the revenue shortfall this month, with FBR officials being tasked to formulate a plan to meet the revenue targets.