The International Monetary Fund (IMF) has shown willingness to consider reducing electricity prices.

Prime Minister Shehbaz Sharif, speaking at a cabinet meeting, revealed that detailed discussions were held with the IMF team in Dubai.

He stated that the IMF has asked the government to present a comprehensive plan, which will be reviewed before any decision is made.

The prime minister also highlighted that IMF Managing Director Kristalina Georgieva praised Pakistan’s economic team for handling matters efficiently.

Government pushes for privatisation

Finance Minister Muhammad Aurangzeb, while addressing a Securities and Exchange Commission of Pakistan (SECP) event in Karachi, emphasised that the government cannot manage everything on its own.

He reiterated that state-owned enterprises will be run by the private sector, regardless of profit or loss considerations, while the government’s role will be limited to providing a policy framework.

Aurangzeb also noted improvements in the insurance and agriculture sectors.

The finance minister confirmed that PM Shehbaz and IMF MD Georgieva held a meeting in Dubai, where Georgieva acknowledged that Pakistan’s economy is moving in the right direction. The government sees this as a positive signal for ongoing economic stabilisation efforts.

IMF remains engaged in discussions

The IMF mission remains actively engaged in Pakistan as it enters the third day of discussions.

Meetings have been scheduled with key financial institutions, including the Federal Board of Revenue (FBR) and the SECP.

According to sources, the IMF mission is urging the government to introduce new accountability laws in line with global standards and take measures to ensure public disclosure of assets owned by government officials.

The mission is also expected to meet with political parties and private sector organisations as part of its review process.

Discussions include cases of financial corruption, ongoing investigations, prosecutions, and convictions.

The government has assured the IMF of its full cooperation in addressing concerns and implementing necessary reforms.