Pakistan, IMF Begin Policy Talks to Finalize Memorandum of Economic and Financial Policies

Pakistan and the International Monetary Fund (IMF) have begun policy-level discussions as part of the ongoing economic review talks, focusing on the finalization of the Memorandum of Economic and Financial Policies (MEFP) draft, official sources told ProPakistani. The discussions are being led by the Finance Secretary on behalf of Pakistan’s economic team, while the Finance Minister Muhammad Aurangzeb is also expected to meet the IMF mission during the review process. Sources said that the Member Customs Policy of the Federal Board of Revenue (FBR) participated in the talks, which covered a detailed review of this fiscal year’s tax collection targets. Both sides also discussed measures to expand the tax net and improve revenue generation. The IMF delegation was given a comprehensive briefing on the deregulation of the sugar sector, outlining how government control is expected to be reduced under the new framework. The briefing emphasized that market dynamics will now determine sugar prices and production levels. Officials also shared updates on the new auto policy and tariff reforms, presenting a proposed framework for vehicle production, pricing, and tariff structure to the IMF mission. The policy-level talks are expected to continue in the coming days, as Pakistan seeks to align its reform agenda with the IMF’s stabilization goals under the ongoing loan program.