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Event Title: IMF Delegation meets Leader of the House at the Senate of Pakistan

Event Date: 2018-11-16

A delegation from the IMF met the Leader of the House, Senator Syed Shibli Faraz to exchange views over the terms and conditions of financial assistance to be extended by the IMF to Pakistan.  The delegation included IMF Mission Chief, Mr. Harald Finger, Resident Representative Pakistan, Teresa Daban Sanchez and Deputy Director Taline Koranchelian, Director Middle East Technical Assistance Center.  Former Minister of Finance, Punjab and sitting MNA Dr. Ayesha Ghaus Pasha, was also present.  

Leader of the House, Senator Syed Shibli Faraz, stressed the need for sustainability of programs and said that Pakistan has been the beneficiary of 19 programs in the last 20 years and every time the support system is removed Pakistan falls back into the vicious circle of debt.  He said that there were two major issues that Pakistan faced – security and energy. He asserted that if these two issues were resolved, nothing can stop this country from progressing.  He said that increasing tariffs is not the solution to the problem unless underlying issues are addressed. 

 Dr. Ayesha Ghaus Pasha stressed the need for a Charter of Economy where long term structural issues can be addressed. She said that there is a need for continuity, understanding and difficult issues to be undertaken irrespective of political associations.   She said that Pakistan agrees that structural reforms are needed to move forward, however, IMF should ensure that these structural reforms have a human face. 

Chief of Mission, Mr. Harald Finger stressed the need for difficult economic reforms. He however, asserted the need for national consensus for the program to succeed and to build a strong Pakistan.