ISLAMABAD: A team of technical experts from the International Monetary Fund (IMF) arrived in Pakistan to discuss a new loan program and assist in budget preparations for the fiscal year 2024-25.
A few members of the IMF mission have reached Islamabad to support the finance ministry in finalizing the budget for FY2024-25.
The team is expected to stay in Pakistan for over 10 days, with other members of the IMF mission scheduled to arrive on the night of May 16, the sources added.
The mission will engage in discussions with Islamabad regarding the new loan program.
Earlier reports indicated that the government had accelerated its preparations for the budget targets ahead of the IMF mission’s arrival. The Ministry of Finance has instructed relevant ministries to swiftly complete these targets.
Sources mentioned that a framework for all key budgetary targets will be prepared and submitted to the IMF.
Additionally, before the IMF mission’s arrival, the federal cabinet will be requested to approve a strategic paper on the FY25 budget.
Moreover, an initial estimate will be made for loan repayments, government expenditures, pensions, and salaries. The Federal Board of Revenue (FBR) will also determine defense expenditures and tax collection targets.
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