KARACHI: A four-member International Monetary Fund (IMF) technical team is in Pakistan to assist local authorities in fixing budget discrepancies amounting to Rs448 million ($1.58 million), officials with direct knowledge of the development confirmed on Thursday.Â
The IMF team will help Pakistani authorities in looking into and fixing the discrepancies reported in the July-September quarter of the fiscal year, the officials said.Â
“Yes, there is a technical mission on the ground,” an IMF official said in response to Arab News’ queries, requesting anonymity as they were not authorized to speak to the media.Â
“But there is nothing to add at the moment.”
The IMF team visited Pakistan at the government’s request and will stay for about two weeks in the country. During this time, the team will scrutinize local rules and regulations and standard practices, the IMF official said.Â
The mission would then finalize its report, suggesting ways to fix statistical discrepancies in Pakistan’s budgetary management.
Pakistan’s finance ministry spokesperson Qamar Sarwar Abbasi did not respond to calls and messages seeking his comments.
However, a well-placed official at Pakistan’s finance ministry confirmed the IMF mission is in Pakistan and had visited the ministry on Thursday.
Pakistan works closely with the IMF in implementing economic reforms. The South Asian country secured a $7 billion bailout from the international lender in September 2024 after months of negotiations to stabilize its struggling economy, attract foreign investment and improve its foreign exchange reserves.Â
These reforms include the privatization of state-owned enterprises, broadening Pakistan’s tax base and reforming the energy sector, among others.
