Pakistan is on track to successfully complete the first review of its $7 billion loan program with the International Monetary Fund (IMF), having taken significant steps to enhance revenue, according to officials and diplomats cited by Bloomberg. Islamabad secured the $7 billion Extended Fund Facility (EFF) last summer to navigate an economic crisis, with the program playing a crucial role in stabilizing the economy. The government asserts that Pakistan is now on a path to long-term recovery. According to The News, Prime Minister Shehbaz Sharif’s administration has approved a law to tax agricultural income, attempted to privatize a stake in Pakistan International Airlines, and taken measures to meet ambitious tax targets. These developments have been presented to the IMF as part of the review process, sources said on condition of anonymity due to the sensitivity of the discussions. An IMF delegation, led by Mission Chief Nathan Porter, is currently in Pakistan to evaluate the government’s progress in fulfilling loan conditions. If the review is successfully completed, Pakistan is set to receive approximately $1 billion as the second tranche of the loan package. Investors are closely monitoring the IMF’s assessment as a key indicator of economic reform progress. Last month, Prime Minister Shehbaz assured IMF Managing Director Kristalina Georgieva that his government is committed to sustaining economic stability and will soon submit a comprehensive growth strategy. Georgieva later acknowledged Pakistan’s strong commitment and reform efforts in a post on X (formerly Twitter). Finance Minister Muhammad Aurangzeb expressed confidence in the review process, stating in an interview with Reuters that Pakistan is “well positioned” for the IMF assessment. He confirmed that discussions with the lender began on Tuesday and will take place in two phases—technical discussions followed by policy-level talks. Aurangzeb also emphasized that Pakistan remains on course to meet its revenue targets for the fiscal year ending in June, and any potential shortfalls will be addressed by broadening the tax base. Pakistan’s successful completion of a nine-month short-term IMF program last year helped rebuild trust with the lender, a contrast to previous loan programs that faced delays or were abandoned due to unmet conditions by past governments.