Islamabad: The International Monetary Fund (IMF) has maintained that it will continue the Extended Fund Facility (EFF) programme with the next government to support fiscal policies in Pakistan, news sources reported on April 4. The statement followed media speculations about the future of the macroeconomic support programme between the government of Pakistan and the IMF.
Reportedly, the Ministry of Finance official has said that the IMF and government officials will stay engaged with sharing data and advice by the fund until the new government assumes charge. It is pertinent to note that Pakistan committed to IMF in June 2019 to stabilise macroeconomic policies and get funds of USD 6 billion. The government of Pakistan has engaged the IMF for the 39th time since its independence to address its chronic Balance of Payment (BoP) and Current Account Deficit (CAD).
The IMF has warned the Ministry of Finance over the mass subsidy on fuel prices in the recent month, citing that it will have a drastic effect on the CAD and the imports bill. The government has halted the fuel price adjustment to the current level despite the rising costs in the international market.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
