Published On: Thu, May 2nd, 2019
Published in Category: Islamabad

Hopeful of success in IMF talks: Hafeez Shaikh

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ISLAMABAD: Adviser to Prime Minister on Finance, Dr Abdul Hafeez Shaikh on Wednesday said the negotiations with the International Monetary Fund (IMF) for a proposed bailout package will continue during the next few days, and that Pakistan is hopeful of success in the talks with the global lender.

Pakistan and the IMF held an important meeting in the federal capital earlier on Wednesday. The Pakistani delegation was led by Dr Abdul Hafeez Shaikh, and included three additional secretaries and a senior joint secretary from the finance ministry.

Secretaries from the Power Division, Petroleum Division, and the chairmen of the FBR and Securities and Exchange Commission of Pakistan also participated in the talks.

In a brief conversation with journalists following the conclusion of Wednesday’s talks, Dr Abdul Hafeez Shaikh said initial negotiations were held with the IMF team, which was also briefed on the economic reforms.

The visiting IMF delegation, which arrived in Islamabad on Monday, is expected to conclude the technical details of the proposed loan by May 6. The proposed bailout package is expected to range between $7-8 billion.

According to sources of a private TV channel, Wednesday’s round of talks focused on briefing the IMF team on the tax amnesty scheme by the Federal Board of Revenue, privatisation programme, power and gas tariffs, and the government’s policies.