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Pakistan is hopeful that the IMF assessment will result in a favorable outcome.

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Under the leadership of Nathan Porter, the International Monetary Fund’s assistant director of the Central Asia and Middle East department, the delegation landed in Islamabad and engaged in discussions with officials from the finance, energy, and Federal Board of Revenue (FBR) departments.

Pakistani authorities, such as Finance Minister Muhammad Aurangzeb and Energy Minister Musadik Malik, informed the IMF group about the actions taken to implement the reforms proposed by the lender.

The ministry had stated that the final review, if it proves to be successful, will result in the release of approximately $1.1 billion. Islamabad successfully obtained a rescue package last summer in order to prevent a sovereign default.

According to sources, the Ministry of Finance expressed optimism for a favorable outcome of the final evaluation. According to sources from the finance ministry, the global lender has not yet imposed any further requirements within the current program.

The conversations pertaining to the ultimate evaluation will conclude tomorrow, in accordance with the previously scheduled timetable. Sources have stated that discussions with the IMF are now taking place in a manner that is both constructive and pleasant.

Sources suggest that Pakistan has met all the crucial requirements for the final evaluation, and the achievement is contingent upon the IMF’s approval.

Earlier today, it was announced that the government of Pakistan provided assurance to the International Monetary Fund (IMF) regarding the acceleration of the privatization initiative.

According to authorities from the finance ministry, the privatization of Pakistan International Airlines (PIA) is progressing according to the established plan, and efforts are being made to conclude the process promptly.

According to sources, the federal government has formulated a plan to privatize the power-sharing firms. Additionally, the list includes other state-owned firms that are experiencing financial losses, such as First Women Bank, state life insurance, and Pakistan Engineering Company.

According to sources, it was disclosed yesterday that Pakistan is expected to finalize the staff-level agreement with the International Monetary Fund (IMF) in the upcoming week.

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Irfan Siddiqui meets with the PM and informs him about the Senate performance of the parliamentary party.

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The head of the Senate’s Foreign Affairs Standing Committee and the PML-N’s parliamentary leader paid Prime Minister Muhammad Shehbaz Sharif a visit in Islamabad.

Senator Irfan Siddiqui gave the Prime Minister an update on the Parliamentary Party’s Senate performance.

Additionally, Senator Irfan Siddiqui gave the Prime Minister an update on the Senate Standing Committee on Foreign Affairs’ performance.

He complimented the Prime Minister on his outstanding efforts to bring Pakistan’s economy back on track and meet its economic objectives.

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SIFC Increases Direct Foreign Investment: Investment in the Energy Sector Rises by 120%

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The Special Investment Facilitation Council is intended to help Pakistan’s energy sector attract $585.6 million in direct foreign investment in 2024–2025. The amount invested at the same time previous year was $266.3 million.

This is a notable 120% rise, mostly due to investments in gas exploration, oil, and power. Such expansion indicates heightened investor confidence and emphasizes the development potential in important areas.

The State Bank reports that foreign investment in other vital industries has increased by 48% to $771 million.

This advancement is a blatant testament to SIFC’s efficient investment procedure and quick project execution.

The purpose of the Special Investment Facilitation Council is to establish Pakistan as an investment hub by aggressively promoting regional trade and investment in the energy sector and other critical industries.

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Discos report losses of Rs239 billion.

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When compared to the same period last year, the data indicates that discos have decreased their losses in the first quarter of the current fiscal year.

The distribution businesses recorded losses of Rs239 billion in the first three months of the current fiscal year, a substantial decrease from the Rs308 billion losses sustained during the same period the previous year.

Additionally, the distribution businesses’ rate of recovery has improved. It has increased to 91% in the first quarter of this year from 84% in the same period last year, indicating success in revenue collection.

Regarding circular debt, the Power division observed a notable change. Last year, between July and October, the circular debt grew by Rs301 billion. Nonetheless, this year’s first four months saw a relatively modest increase in circular debt, totaling about Rs11 billion.

These enhancements show promising developments in the electricity sector’s financial health in Pakistan, where initiatives are being made to accelerate recovery rates and slow the expansion of circular debt.

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