Second tranche: Pakistan, IMF talks begin today

Talks between Pakistan and the International Monetary Fund (IMF) for the disbursement of the next $700 million installment are set to commence today.

An IMF review mission arrived in Pakistan on Wednesday night to assess the country's economic performance during the initial three months of the current fiscal year, spanning from July to September. Nathan Porter, the chief of the IMF's country mission, will lead the review mission.

It's been reported that Pakistan has satisfactorily fulfilled all IMF conditions in preparation for the next review talks under the $3 billion standby arrangement (SBA), scheduled for November.

In alignment with IMF requirements, Pakistan is likely to raise the diesel levy from Rs55 to Rs60 per liter, while gas rates have already been increased. With Islamabad having met the conditions set for the first quarter of FY2023-24, Pakistan expresses confidence in the successful completion of the IMF review.