Pakistani officials, currently engaged in talks with the International Monetary Fund (IMF) team, have briefed the visitors about the Benazir Income Support Programme (BISP), reported 24NewsHD TV channel on Wednesday.
Sources have told 24News TV channel that the officials have informed the Fund that during the first four months of the ongoing financial year (FY), despite financial difficulties, timely provision of aid to the deserving people has been ensured.
Sources have further said that the IMF officials are satisfied with the government’s briefing.
On Tuesday, 24News TV channel reported that members of the Fund’s delegation had visited Ministry of Finance and received a briefing on the country's economic performance during the first quarter of the current fiscal year.
On arrival, Finance Minister Senator Muhammad Aurangzeb welcomed the delegation, which was led by Mission Chief Nathan Porter.
Minister of State for Finance Ali Pervaiz Malik, the Governor of the State Bank, the Chairman of the Federal Board of Revenue (FBR), and senior finance ministry officials were also in attendance.
The finance minister briefed the IMF delegation on Pakistan’s current economic situation and highlighted key developments that took place in the first fiscal quarter.
The IMF team had reached Islamabad on Monday to hold a five-day loan assessment talks with Pakistani authorities. The talks are set to continue until November 15 (Friday).
During the talks, Pakistan’s first-quarter economic performance will be presented, and tax collections and external financing will be discussed.
Representatives from Pakistan’s Ministry of Finance, Federal Board of Revenue (FBR), and State Bank of Pakistan (SBP) will participate in the negotiations.
Two months ago, the IMF Board had approved a 37-month, $7 billion Extended Fund Facility, with Pakistan receiving an initial Special Drawing Rights (SDRs) allocation of 760 million.
IMF Mission Chief Nathan Porter noted that the IMF Executive Board approved the $7 billion loan package for Pakistan, with a focus on stabilising the macro-economy through sound policies and structural reforms.
Pakistan’s State Bank (SBP) confirmed receipt of a $1 billion tranche from the IMF on September 27 this year as part of a new financial programme.
Reporter: Waqas Azeem