IMF Emphasizes Need For Energy Sector Reforms In Pakistan

The International Monetary Fund (IMF) has highlighted the importance of reforming Pakistan’s energy sector for economic progress, as reported by ARY News.

Discussions between the IMF and Pakistani authorities concluded successfully, following deliberations led by IMF mission chief Nathan Porter, who arrived in Pakistan on May 13.

Porter emphasized ongoing policy discussions to finalize financial support for Pakistan’s reform efforts, focusing on key areas like inflation control, public service enhancement through SOE restructuring, and private sector development.

Pakistan recently completed a short-term USD 3 billion program with the IMF and is now seeking a new loan program, potentially amounting to at least USD 6 billion. Additionally, the country may request extra financing from the IMF’s Resilience and Sustainability Trust.

The IMF’s reform program aims to transition Pakistan towards resilient and inclusive economic growth. Porter reiterated the significance of reforms amidst persistent economic challenges, stressing the focus on rejuvenating Pakistan’s economy rather than solely the loan package size.