ISLAMABAD, May 22:The talks between the government and the International Monetary Fund (IMF) for the revival of the bailout package are moving at a snail’s pace as the economic managers are still waiting for the ‘big nod’ from Prime Minister Shehbaz Sharif which is crucial to bridging differences with the fund.
Due to indecisiveness of the political leadership, Finance Minister Miftah Ismail, who was originally scheduled to leave for Doha on Sunday, will now go on Monday. Without political commitments for the next fiscal year, talks would remain inconclusive, said sources.
However, Minister of State for Finance Dr Ayisha Pasha is scheduled to fly to Doha on Sunday for the final round.
The economic managers are still waiting for the ‘big nod’ from Prime Minister Shehbaz Sharif which is crucial to bridging the differences with the fund.
Senior members of the ruling party are hesitant in taking tough economic decisions without a clear support from the establishment. They are dropping clear hints that in the absence of no guarantees from the powers that be they are ready to call snap elections.
The IMF and the Pakistani authorities could not build consensus on the macroeconomic framework during the technical level of discussions that began from Wednesday, sources in Islamabad and Doha told The Express Tribune.
There are differences of opinion on the issues of budget deficit, revenue target, power subsidies’ withdrawal plan, rationalisation of expenditures and inflation and economic growth projections. The gaps in the projections can only be bridged once there is a clarity on the status of fuel subsidies and tax measures for the next fiscal year. -DNA
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