ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb has indicated the nation’s keenness for the swift approval of the next tranche from the International Monetary Fund (IMF). This comes as a delegation from the global financial institution is scheduled to visit Pakistan next month for discussions related to the upcoming review of the ongoing economic program.
Information was available with The Chenab Times that Minister Aurangzeb, currently in Washington D.C. for the Spring Meetings of the World Bank and IMF, referred to an anticipated disbursement of approximately USD 1.2 billion. This amount is expected to comprise USD 1 billion under the existing 37-month Extended Fund Facility (EFF) and an additional USD 200 million from the 28-month Resilience and Sustainability Facility (RSF). A staff-level agreement was previously secured last year following the IMF’s second review of Pakistan’s economy under the EFF, which was initially agreed upon in 2024.
Speaking to journalists on Friday following a press conference at the Pakistan Embassy in Washington, Minister Aurangzeb commented on the reopening of the Strait of Hormuz, describing it as a positive development that would likely alleviate pressure on global oil supplies, according to reports.
He further noted that had the conflict in the region escalated, it would have negatively impacted various economic factors, including growth and inflation. “We hope the situation will improve, but hope is not a strategy, and that’s why we had planned for everything,” Aurangzeb stated.
The Finance Minister confirmed that discussions were held with IMF officials regarding the economic ramifications of the Iran conflict. “Our focus is on getting an early approval for the next tranche,” he emphasized.
During his press conference, Aurangzeb provided Pakistani media representatives with an overview of the country’s economic outlook, the progress of reform initiatives, and the outcomes of his engagements at the World Bank-IMF Spring Meetings. His meetings with international stakeholders, including counterparts from China, the United States, and the United Kingdom, centered on enhancing cooperation in trade, investment, and crucial sectors such as information technology, minerals, and energy.
On the external sector, the minister highlighted robust performance indicators. These included a current account surplus exceeding USD 1 billion in March, remittance inflows of USD 3.8 billion during the same month, and record inflows of USD 261 million through the Roshan Digital Account. Further growth in these areas is anticipated.
Aurangzeb also acknowledged the significant role of the Pakistani diaspora in bolstering external sector stability through formal financial channels.
Regarding financial sector reforms, he stated that efforts are underway to strengthen regulatory oversight and formalize the operations of exchange companies. This initiative involves coordinated actions among the finance ministry, the State Bank of Pakistan, and law enforcement agencies.
The Finance Minister reiterated that responsible borrowing remains a cornerstone of government policy. He added that international financial platforms should be leveraged for knowledge sharing and peer learning, rather than for advocating debt relief.
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The Chenab Times News Desk
