IMF delegation meets PTI chief in Lahore
Pakistan
IMF delegation meets PTI chief in Lahore
LAHORE (Web Desk) – A delegation of the International Monetary Fund (IMF) called on Pakistan Tehreek-e-Insaf (PTI) chairman in Lahore on Friday.
The global lender is seeking the support of major political parties including the PTI, PML-N and PPP ahead of its executive board meeting scheduled to be held on July 12 to review and possibly endorse a $3 billion Standby Arrangement (SBA) for Pakistan.
PTI's team included the former prime minister, Shah Mahmood Qureshi, Hammad Azhar, Shaukat Tarin, Omer Ayub Khan, Dr Sania Nishtar, Shibli Faraz, Taimur Jhagra and Muzammil Aslam.
Giving details about the meeting, PTI leader Hammad Azhar said that an IMF team visited his party’s chief in Lahore where the two sides discussed a recent staff-level pact agreed between Pakistan and the global lender.
“In this context, we support the overall objectives and key policies,” Hammad added.
The meeting was attended by IMF country chief Nathan Porter who joined virtually from Washington and Resident Representative Ester Perez Luis who was physically present, he added.
Earlier today, the IMF's resident representative Esther Perez Ruiz said in a statement that the meetings with political parties were to "seek assurances of their support for the key objectives and policies under a new IMF-supported programme ahead of the approaching national elections."
The cash-strapped country and the IMF had reached a long-awaited staff-level agreement (SLA) on $3 billion SBA, the global lender announced on June 30.
The $3 billion funding, spread over nine months, is higher than expected for Pakistan. The country was awaiting the release of the remaining $2.5 billion from a $6.5 billion bailout package agreed in 2019.
Earlier, Federal Minister for Commerce Syed Naveed Qamar held a crucial meeting with IMF representative Ester Perez Luis.
In a significant development for Pakistan’s economic landscape, the delegation met the finance team of the Pakistan Peoples Party (PPP) including its Senator Saleem Mandviwala.
Ester Perez luis IMF resident representative called on PPP finance team , Syed Naveed Qamar and Saleem Mandviwala ,to discuss standby agreement with Pakistan . PPP agreed to support the program in larger national interest pic.twitter.com/nU40P8gyvc
— Syed Naveed Qamar (@naveedqamarmna) July 7, 2023
