Aurangzeb kicks off talks with IMF mission

Finance Minister Muhammad Aurangzeb opened talks with a visiting IMF team on Tuesday, Business Recorder reported. The mission led by Iva Petrova is in Islamabad to assess Pakistan's Extended Fund Facility and Resilience and Sustainability Facility arrangements, covering the fourth EFF review and third RSF review. A Ministry of Finance statement said the virtual session also included SBP Governor Jameel Ahmad, FBR Chairman Rashid Langrial and Minister of State Bilal Azhar Kayani.

The talks follow a visit by an IMF staff team the previous week, which opened negotiations. On Monday, officials briefed the mission that the Gulf War and the Strait of Hormuz disruption had led to first-quarter revenue losses and slower economic activity. Officials also said roughly 10,000 federal employees must file online declarations of movable and immovable property by October 30, 2026, under a mandatory regime.

The EFF, a 37-month programme that the IMF board cleared in late September 2024, is valued at about $7 billion. Once IMF staff and authorities agree on the two current reviews, Board approval would unlock about $1 billion under the EFF and $200 million under the RSF. So far, $4.8 billion has reached Pakistan through the two facilities.