ISLAMABAD: Pakistan is preparing for the next round of review talks with the International Monetary Fund (IMF) under the Extended Fund Facility (EFF). The discussions will begin on September 25, according to officials from the Finance Ministry.

The successful completion of this review is vital. It will clear the way for IMF Board approval of a $1 billion tranche. So far, Pakistan has received more than $2 billion in two installments from the $7 billion program.

Key Reforms Still Pending

Sources reveal that Pakistan has not yet met all IMF conditions. Out of 22 structural benchmarks, five remain incomplete. This raises concerns about the country’s progress.

One major issue is the privatization of electricity distribution companies. The IMF required a policy action plan for privatization, but it is still pending.

Another key target, the Corruption and Governance Diagnostic Assessment Report, has not been published.

Legal and Structural Challenges

Amendments to the State-Owned Enterprises (SOEs) Act and the Sovereign Wealth Fund law are also incomplete. The IMF has further asked Pakistan to revise the Public Finance Management Act, which remains unfinished.

Focus of Upcoming Talks

The review talks will focus heavily on these pending reforms. Pakistan aims to convince the IMF of its commitment to economic changes. Meeting these conditions is crucial for securing continued financial support and restoring investor confidence.