Pakistan's IMF Hurdles: A Commitment Amid Challenges

The Pakistan government admitted difficulties in fulfilling the IMF's USD 7 billion program's conditions. Key challenges include unmet debt maturity targets, missed fiscal obligations, and transparency on asset declarations. Finance Minister Muhammad Aurangzeb reassured commitment to the agreement, amid rising opposition demands for disclosure of military and judiciary assets.

The Pakistan government acknowledged facing challenges in implementing the International Monetary Fund's (IMF) USD 7 billion program, though it remains committed to fulfilling its obligations. Addressing the National Assembly's Finance Committee, Finance Minister Muhammad Aurangzeb attributed these "hiccups" to the complexities of coalition governance.

The finance ministry disclosed to the committee that it had not met specific IMF conditions, notably the debt maturity targets. Additionally, the Federal Board of Revenue (FBR) and provincial bodies lagged behind IMF deadlines, prompting an unexpected IMF inspection visit.

Finance Secretary Imdadullah Bosal revealed multiple shortfalls in meeting fiscal and administrative targets, including a significant gap in tax collection and missing expenditures on health and education mandates. Amidst these challenges, opposition demands for transparency on military and judiciary assets remain unmet.

(With inputs from agencies.)