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Will IMF demand a mini-budget from Pakistan by October 31, 2024?
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Official IMF statements and Pakistani government announcements
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Pakistan Aims to Meet IMF Conditions for $7 Billion Loan, FBR to Collect Rs1,196 Billion in September 2024
Sep 3, 2024, 09:37 AM
Pakistan is working to meet all the conditions set by the International Monetary Fund (IMF) for a new $7 billion loan program, according to Prime Minister Shehbaz Sharif. The Federal Board of Revenue (FBR) needs to collect Rs1,196 billion during September 2024 to achieve a total of Rs2,652 billion by the end of the month, as agreed with the IMF. Failure to meet this target may result in the IMF demanding a mini-budget. The IMF has also imposed new conditions concerning energy subsidies and provincial budgets following Punjab's decision to grant Rs45 to Rs90 billion in electricity subsidies for two months. PM Sharif mentioned that inflation is coming down, but emphasized the need for growth and stability. He expressed hope that this will be the last IMF program Pakistan will need.
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