The IMF mission, which has been in Karachi for the past three days, is scheduled to travel to Islamabad on Saturday for formal negotiations. Policy-level talks with Pakistan’s economic team are expected to begin on Monday.
During its stay in Karachi, the IMF delegation held discussions with State Bank officials and the Sindh government. Provincial authorities briefed the mission on the province’s contribution to the federal surplus budget.
According to sources, Sindh’s tax revenue stood at Rs593 billion as of June 30, while non-tax revenue more than doubled to over Rs80 billion during the same period.
State Bank officials also briefed the IMF mission on Pakistan’s overall economic performance. The briefing covered foreign exchange reserves, monetary policy, imports and the foreign exchange market.
Officials informed the IMF that Pakistan had achieved its target of maintaining foreign exchange reserves above $17 billion.
The central bank also briefed the mission on developments in the current account and an increase in foreign direct investment.
The IMF mission is expected to begin detailed policy-level discussions with Pakistan’s economic team in Islamabad from Monday as part of the fourth review.