ISLAMABAD: A review mission from the International Monetary Fund (IMF) has arrived in Pakistan today for a 15-day visit.
The mission will remain in the country until March 11, 2026, with negotiations planned in Karachi during the first phase and in Islamabad during the second.
The IMF mission will review Pakistan’s economic performance for the first half of the fiscal year (July–December 2025) and assess key elements of the upcoming fiscal year’s budget.
According to the Ministry of Finance, most IMF targets have been met except for tax revenue. The Federal Board of Revenue (FBR) faces a shortfall of Rs. 329 billion in the first six months and Rs. 372 billion over seven months, which will be presented to the mission. The government is also considering a further reduction in the annual tax target.
The review will cover provincial and overall fiscal frameworks, governance, anti-corruption measures, key institutional appointments, strengthening the FBR’s anti-corruption cell, disclosure of officials’ assets, and discussions on an economic reform action plan.
Officials reported that the primary fiscal surplus equals approximately 1.3% of GDP, with provinces contributing a total cash surplus of Rs. 1,180 billion. Provincial tax targets were met, the current account remained in surplus, and foreign exchange reserves exceeded program targets.
Large-scale manufacturing grew about 6% from July to November 2025. Despite recent floods and other challenges, the IMF-supported loan programs remain on track.
This visit is part of an $8.4 billion IMF program, including a $7 billion Extended Fund Facility (EFF) and $1.4 billion Resilience Support Fund (RSF). Pakistan has already received $3.3 billion under these programs.
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