ISLAMABAD: In a major development to ease the country’s economic woes in the coming months, the International Monetary Fund (IMF) has agreed to complete its ongoing $3 billion Standby Arrangement (SBA) programme. So the country is likely to work with a long-term caretaker setup. JEE News reported this on Thursday quoting top government sources.
“The IMF has expressed its willingness to work with a long-term caretaker setup to complement the ongoing SBA programme, which is set to end in March or early April 2024,” the sources said.
He further confirmed in the background discussion that Islamabad has approached the IMF on the possibility of extending the caretaker set-up period after the approval of the Council of Common Interests for the 7th Population and Housing Census to be held in 2023. was also taken into confidence, which was notified through the Official Gazette.
The Election Commission of Pakistan needs four months to start the delimitation exercise and another two months to complete the election process. Hence, the next elections may not be held in 2023 but in the first quarter (January-March) of 2024.
After getting IMF approval, the selection process is underway in key ministries, including the Ministry of Finance. Among the top contenders are banker Sultana Alana, former Special Secretary to the Ministry of Finance Dr Ashfaq Hasan Khan, and Tariq Bajwa – the outgoing Special Assistant to the Prime Minister on Finance and Revenue and former Governor of the State Bank of Pakistan.
For other key economic ministries including Economic Affairs Division, Commerce, Industry, Agriculture, Privatization and Board of Investment, some other names including Mohammad Mian Soomro and Ijaz Gohar are being considered by top officials.
When this writer contacted former FBR chairman Shabbar Zaidi on Wednesday night, he said he was not interested in taking up any post in the interim setup due to personal reasons, adding that he was leaving Karachi. Can’t go out.
A top official said that if Jalil Abbas Jilani becomes caretaker prime minister, there is a strong possibility that Alana will be made finance minister or given another key economic ministry.
Dr. Ashfaq will also be considered as a candidate for the important post.
However, if Dr. Abdul Hafeez Shaikh becomes the caretaker Prime Minister, the chances of Alana and Dr. Ashfaq becoming caretaker finance ministers will disappear.
Outgoing finance minister Ishaq Dar wants a key member of his team to occupy a top position in the finance ministry.
In Dar’s absence, Bajwa will be the first choice, but the final decision will be announced only after the top man is appointed to the prime minister’s office.
