Amid a continuous surge in the global market, Pakistan on Thursday said it would seek flexibility in the International Monetary Fund (IMF) programme to create room for evolving contingencies following the US-Israeli war on Iran and pass on the burden of petroleum prices to consumers.
This was announced by the Ministry of Finance after a meeting between Finance Minister Muhammad Aurangzeb and the US Charge d’Affaires Natalie Baker ahead of upcoming spring meetings with the IMF and the World Bank later this month.
An official statement by the ministry said both sides discussed Pakistan’s ongoing engagement with international financial institutions and development partners, including efforts to maintain reform momentum under the IMF programme.
“The finance minister reiterated Pakistan’s commitment to fiscal discipline while seeking flexibility in light of evolving global and regional challenges,” the statement said.
The minister also briefed the US diplomat on ongoing efforts to manage energy sector challenges, including procurement, pricing mechanisms, and targeted subsidies.
“While supply arrangements were being maintained, the government was working on improving price transmission and ensuring that subsidies are better targeted towards vulnerable segments such as small farmers and public transport users,” the minister was quoted as saying.