ISLAMABAD: Expressing its desire to complement the ongoing program of the International Monetary Fund (IMF), Pakistan has once again approached the US to expedite the staffing of the Washington-based money launderer. Agree to follow the agreement.
According to a report in JEE News published on Saturday, the issue came up during a meeting between US Ambassador Donald Bloom and Finance and Revenue Minister Ishaq Dar.
Sources told JEE News that the finance minister told the US ambassador that the ongoing Expanded Fund Facility (EFF) program was ending on June 30, 2023, so the decision to complete the IMF was pending on the 9th. Will be. Review under the EFF program.
If the IMF’s policy of inaction continues, the program will go up in smoke.
Meanwhile, Donald Bloom called for a reduction in the tax burden on certain US companies operating in the country – particularly those related to the beverage sector.
Dar – in the presence of Special Assistant to the Prime Minister on Revenue – did not make any promises.
However, he promised to review the request during the budgeting exercise.
In a statement on Friday, the Ministry of Finance said: “US Ambassador to Pakistan HE Mr. Donald Bloom met Finance Minister Senator Muhammad Ishaq Dar and discussed matters of mutual interest and bilateral economic, investment and mutual interest. Discussed issues. Trade relations between the two countries.”
H.E. Mr.Donald Blome, Ambassador of the United States of America to Pakistan called on Finance Minister Senator Mohammad Ishaq Dar and exchanged views on matters of mutual interest and enhancing bilateral economic, investment and trade relations between the two countries.🇺🇸🇵🇰 pic.twitter.com/pwVAB9v16i
— Ministry of Finance (@FinMinistryPak) May 26, 2023
It added that the minister shared the government’s economic policies and priorities to address the challenging economic environment and bring economic stability and growth.
It said that the two sides discussed issues of mutual interest and enhancement of existing bilateral relations between the two countries.
Dar apprised the US ambassador about the government’s operational plans on revenue and expenditure to meet its national and international fiscal obligations and shared various economic avenues through which the two countries could deepen their economic ties. can.
“The finance minister also apprised the envoy about the ongoing IMF program and assured the government’s commitment to complete the programme,” the statement said.
Currently, Pakistan is making last-ditch efforts with the IMF to revive the stalled EFF programme.
Hopes are dwindling every day mainly because the ongoing $6.5 billion program under the EFF will expire on June 30.
Islamabad is still mulling ways to meet other payment deadlines as the country owes about $3.7 billion in foreign debt this month and in June, while its current foreign exchange reserves are just $4.3 billion. .
The cash-strapped country is looking to China to take on more than $2 billion in debt due next month, according to JEE News report.
Two senior officials told JEE News that Beijing has pledged to help Pakistan meet two major debt payments worth $2.3 billion in June by providing fresh funds immediately after the payments.
“Refinancing of $1.3 billion in commercial debt and $1 billion in Chinese government debt will help Pakistan avoid an immediate default,” officials said.
