Islamabad (Web Desk): The International Monetary Fund (IMF) representative in Islamabad on Monday said that policy commitments made by the Pakistani government, to resume the support program, continue to apply.
Speaking to an international news agency, IMF representative in Islamabad Esther Pérez Ruiz said that policy commitments made by the Pakistani authorities as part of the Seventh and Eighth review under their IMF-support programme continue to apply.
She said that policy discussions will commence in the coming weeks once the damage assessment report after massive floods becomes available.
The IMF's statement comes after the Finance Minister Ishaq Dar, who took over the reign from his fellow party member Miftah Ismail last week, reduced the prices of all petroleum products for the next 15 days by around 5%, reversing a policy of raising prices monthly through added levies to ensure enhanced revenues as agreed with the international lender.
Dar said imposing additional levies was not justified as the country struggled with catastrophic floods that have killed more than 1,600 people and inflicted at least $30 billion in damages.
“I have been dealing with the IMF for the last 25 years; I will deal with it,” he said, referring to any potential reservations by the lender.
The finance minister's statement had come in response to his predecessor criticism, who termed the move to slash fuel prices by reducing levy sans IMF approval as “reckless”.
Dar responded by advising Miftah not to worry as he knew how to deal with the international lender.
