Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a meeting of the Economic Coordination Committee (ECC) yesterday, where he appreciated the strong cooperation of federal ministries, government institutions, district offices, senior secretaries, and provincial governments. He said that their collective support made it possible for the government to advance its structural reform agenda and successfully complete the second review under the IMF’s Extended Fund Facility (EFF).
At the beginning of the meeting, the finance minister stated that the joint commitment of all institutions and disciplined implementation played a central role in strengthening Pakistan’s economic management and stability. He welcomed the recent announcement by the IMF Executive Board, according to which Pakistan will receive nearly $1 billion after the approval of the second review, while the completion of the first review under the Resilience and Sustainability Facility (RSF) will bring an additional $200 million. He also highlighted that the IMF praised Pakistan’s strong implementation of the program despite severe floods, which helped improve economic stability and the financial situation.
Referring to the latest review, Senator Muhammad Aurangzeb said that the IMF acknowledged Pakistan’s resilience during the emergency flood situation and noted that the country did not need to make an urgent appeal for international rescue assistance. He credited this to the financial and external buffers preserved by the government, which enabled Pakistan to absorb shocks and respond effectively to the crisis.
He reiterated the Ministry of Finance’s gratitude for the assistance provided by federal and provincial institutions and said that coordinated efforts will further strengthen the country’s path toward economic stability. He added that the latest IMF review once again confirms that Pakistan’s fiscal and external position has become strong enough to handle the flood-related crisis without seeking immediate global assistance. He termed this a major milestone, especially at a time when approximately $1.3 billion has already been approved under the EFF and RSF facilities.
