ISLAMABAD(National Times)- A review mission of the International Monetary Fund (IMF) is set to arrive in Pakistan today for a 15-day visit to assess the country’s economic performance under the ongoing loan programme. The mission will remain in the country until March 11, holding negotiations in two phases — first in Karachi and later in Islamabad. During the visit, the IMF team will evaluate Pakistan’s economic performance for the first six months of the current fiscal year, from July to December. The broad contours of the upcoming federal budget for the next fiscal year will also be part of the review schedule, indicating the significance of the discussions for future fiscal planning. Sources in the Ministry of Finance stated that most IMF targets have been achieved, with the exception of tax revenue collection. The Federal Board of Revenue (FBR) faced a shortfall of Rs329 billion in the first six months and Rs372 billion in seven months of the fiscal year. The mission will be briefed in detail on the revenue gap and corrective measures. The government is also considering requesting a downward revision of the annual tax target. According to sources, the review will also cover provincial and overall fiscal frameworks, governance reforms, and anti-corruption measures. The performance of the National Accountability Bureau (NAB), along with appointment procedures in key institutions, will come under scrutiny.

IMF acknowledges Pakistan’s economic recovery ahead of review talks

Discussions are expected on strengthening the FBR’s anti-corruption cell, making public officials’ asset declarations transparent, and advancing the reform action plan. Officials maintained that a primary fiscal surplus of around 1.3 percent of GDP has already been achieved, while provinces collectively delivered a cash surplus of Rs1,180 billion. Provincial tax targets were met, the current account remained in surplus, and foreign exchange reserves stayed above programme targets. From July to November, the large-scale manufacturing sector recorded approximately 6 percent growth. Authorities emphasized that despite challenges, including the impact of recent floods, the loan programme remains on track. The visit is part of the $7 billion Extended Fund Facility (EFF) and the $1.4 billion Resilience and Sustainability Facility (RSF), bringing the total programme size to $8.4 billion. So far, Pakistan has received $3.3 billion under both arrangements.