An International Monetary Fund (IMF) mission led by Mr. Nathan Porter has completed a visit to Pakistan, engaging with federal and provincial governments, the State Bank, and private sector representatives from November 12 to 15.

The visit aimed to discuss the country’s economic developments and policy reforms.

In a statement issued following the visit, Mr. Porter described the discussions as constructive, emphasizing the importance of ongoing economic reform efforts to reduce vulnerabilities and promote sustainable growth.

The IMF team stressed the necessity of maintaining prudent fiscal and monetary policies and suggested mobilizing revenue from untapped tax bases.

They also advocated for transferring greater social and developmental responsibilities to provincial authorities.

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Mr. Porter highlighted that structural reforms in the energy sector are essential for restoring its viability and called for reducing state intervention in the economy to enhance competition.

Such measures are expected to foster a dynamic private sector, which could lead to improved living standards for all Pakistanis.

The IMF expressed encouragement regarding the Pakistani authorities’ commitment to the economic reforms supported by the 2024 Extended Fund Facility (EFF).

The next mission, associated with the first EFF review, is anticipated in the first quarter of 2025, as the IMF continues to support Pakistan in its efforts toward economic stability and growth.