Finance Minister Muhammad Aurangzeb recently expressed optimism regarding Pakistan’s efforts to secure the required financing for its $7 billion IMF programme. Aurangzeb highlighted the positive response from China, Saudi Arabia, and the United Arab Emirates towards Pakistan’s financing needs. The Pakistani government has been actively engaged in discussions with these countries to meet the gross financing needs for the IMF programme. Aurangzeb also mentioned making progress with the IMF and anticipated board approval for the new loan programme in September.

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Furthermore, the finance minister shared positive interactions with commercial banks regarding the supply of funds and noted the improved country ratings by international agencies. Pakistan is aiming for external financing of $3 billion over the 37-month IMF programme, with $2 billion required for this year. Aurangzeb also addressed the delay in the IMF board’s approval, expressing confidence in the programme’s eventual approval and emphasizing the government’s commitment to tax collection and providing facilities for businesses.