The Ministry of Finance is mulling to cut the tenure from three years to two of the extended fund facility of IMF to delay the privatisation of Pakistan International Airlines, Pakistan Steel Mill and others national institutions, Pakistan Today has learnt.
The dialogue between senior officials of the Finance Ministry and IMF will start in Dubai on Wednesday (today) for the 8th economic review under the extended fund facility in which the government would try to convince the IMF officials regarding hurdles in the privatization process, the sources said.
Pakistan has so far received eight tranches of about $4.05 billion since September 4, 2013, when the IMF Executive Board approved the three-year extended arrangement under the EFF for $6.18 billion.
“The meetings will review economic progress on the targets agreed for July-September period,” said a senior official of the Finance Ministry. The meeting will review the economic status of Pakistan to get 9th tranche of above $500 million from the IMF. The officials said this meeting with the IMF was important as the government could not finalise any privatization of the government entity announced earlier.
