Pakistani authorities and International Monetary Fund (IMF) would begin talks next week from May 18 to review “the latest economic developments and policy implementation”, The News reported, after Fund’s confirmation.

The Fund has also asked Pakistan to proceed with the implementation of policies with the aim of achieving macroeconomic stability, and inclusive and sustainable growth

The demand indicates that the IMF wants to see a reversal of fuel subsidies and expects that the government will move ahead with hiking petroleum prices on May 15, indicating it seemed serious to resume parleys with the Fund for reviving the stalled IMF programme.

However, the economic managers are clueless about how to face the backlash on the political front. There are proposals under consideration to hike the petroleum prices in a gradual manner and also convince the provinces to share the fiscal burden at difficult times.

This correspondent contacted IMF’s spokesperson based in Washington DC and inquired about the possibility of holding review talks with Pakistan authorities, the written reply stated: “We can confirm that an International Monetary Fund team led by Nathan Porter will meet the Pakistani authorities on May 18 to go over the latest economic developments and policy implementation.”

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