Finance Minister Muhammad Aurangzeb has confirmed that an International Monetary Fund (IMF) delegation will visit Pakistan at the end of September for the next economic review.
If the review is successful, Pakistan expects to receive the third tranche of $1 billion under the $7 billion Extended Fund Facility, which spans 37 months.
Speaking to a private TV channel, Aurangzeb said all preparations for the upcoming IMF review are complete. So far, Pakistan has received $2.1 billion from the program.
The minister highlighted positive developments in Pakistan International Airlines (PIA), saying its routes to Europe and the UK have reopened, attracting major bidders for privatization. He stressed that while PIA’s position is improving, reforms in other loss-making state-owned enterprises — responsible for Rs6 trillion in losses — will take time. Twenty-four such entities are currently being prepared for privatization, alongside governance improvements.
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Aurangzeb also shared that civil service pension reforms have been implemented, and rightsizing efforts are underway in 43 ministries and over 400 departments. Last year’s debt servicing costs were cut by Rs1 trillion, and privatization efforts are set to accelerate this year.
The prime minister, he said, has directed that economic decisions be made in consultation with the private sector. Over the past six weeks, talks with traders have been “positive,” and business chambers will be consulted before policy matters move forward.
Aurangzeb announced that agreements have been made to reduce electricity tariffs, with a task force now working on lowering energy costs. He added that Pakistan’s economic progress has been recognized globally, with two international rating agencies already upgrading the country’s outlook and a third expected soon.
Looking ahead, the minister revealed plans to issue Panda bonds by year’s end, noted that the policy rate has dropped to 11%, and reported an 84% rise in CEO confidence. He emphasized that Pakistan must make full use of its trade agreements with the United States to strengthen growth.
