ISLAMABAD: The International Monetary Fund (IMF) will meet Pakistan Tehreek-e-Insaf (PTI) chairman Imran Khan to seek support on the $3 billion bailout programme.
Senior PTI leader and former finance minister Hammad Azhar disclosed that the IMF approached the party’s economic team to gain support for the agreement.
Azhar said the IMF team contacted PTI a few days ago and requested to support the agreement. He said an IMF team will call on party Chairman Imran Khan at Zaman Park this afternoon.
He said the draft nine-month standby agreement with the IMF will be presented to the IMF’s board in Washington next week for approval.
Azhar said that both PTI’s economic team and the IMF team based in person and those abroad will join virtually to take part in the discussions.
PTI’s economic team has been approached by the IMF to solicit the party’s support for the USD 3 BN Stand-By Agreement and its broad objectives.
An IMF team will call on Party Chairman Imran Khan at Zaman Park this afternoon. Both PTI’s economic team and the IMF team will join, in…— Hammad Azhar (@Hammad_Azhar) July 7, 2023
The IMF’s resident representative Esther Perez Ruiz said that the meetings with political parties including the PTI to gain support on the IMF deal.
In statement, the IMF official said the purpose of the meeting were to “seek assurances of their support for the key objectives and policies under a new IMF-supported program ahead of the approaching national elections.”
The official added that they will also meet Pakistan Muslim League-Nawaz (PML-N) and Pakistan People’s Party (PPP).
MF Resident Representative in Pakistan Esther Pérez Ruiz said the IMF staff was meeting representatives of Pakistan’s political parties so that support could be sought on implementations of the assurances on the new IMF programme.
“The IMF executive board will mull over new stand-by arrangement for Pakistan, in the coming days,” the IMF representative said.
Pakistan secured a $3 billion stand-by arrangement (SBA) from the IMF. The staff-level agreement is subject to approval by the IMF Executive Board which is scheduled to meet on July 12.
The previous Extended Fund Facility (EFF) expired on June 30. Prime Minister Shehbaz Sharif said the first tranche of $1.1 billion will be received later this month.
