Shaukat Tarin, PM advisor on finance and revenue, said on Tuesday that approval of the sixth review by the International Monetary Fund (IMF) will be contingent on the implementation of five measures identified by the fund.
Speaking to the media as a keynote speaker at the Pakistan Center for Philanthropy (PCP) awards ceremony, Tarin said that once these actions are taken, IMF will carry forward the EEF.
The three main previous measures were electricity tariffs, the removal of subsidies and the agreed autonomy of the State Bank of Pakistan (SBP), while it did not disclose the other two measures because they are less important.
“We have already completed this revision of the increase in electricity tariffs and the rest will fall after February 2022.”
Tarin noted that his predecessors put him in a quandary by agreeing to a number of things, including the SBP’s independence from the IMF for the $ 500 million tranche.
He said he was negotiating in a difficult situation. It would be difficult to get the fund to agree without Parliament’s passing the Law he said, adding that he is trying to get relief.
Tarin believed that the rupee would strengthen as the fund’s program get successfully reviewed.
He said the government is also taking a bottom-up approach to support the poor where subsequent benefits have not reached them previously.
He said the government will spend Rs 1.4 trillion over the next four years on the welfare of low-income people, which is important.
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