Federal Minister for Finance and Revenue Miftah Ismail on Wednesday labeled the discussions with the International Monetary Fund as “useful and constructive” as the government and the international lender concluded their talks in Doha.
Disclosing details of the negotiations with the Fund, Miftah said that the government was dedicated towards the revival of the IMF program and putting Pakistan back on a sustainable growth path.
The talks were held in Doha, Qatar, from May 18 to 25 and where both sides failed to reach an agreement for the revival of the $6 billion program because of the government’s hesitation to remove fuel subsidies.
The IMF stressed upon taking immediate and substantial policy actions, including removal of fuel and energy subsidies.
Miftah endorsed their stance and said that the IMF team stressed upon the importance of withdrawing fuel and power subsidies, which were granted by the previous government in violation of its agreement with the IMF.
The Fund said that it looks forward to carrying on talks and close engagement with Pakistani authorities to guarantee macroeconomic stability for the benefit of all.