#Pakistan's new de-facto finance minister @MiftahIsmail and his team had 3 meetings with IMF in D.C., Friday. They're meeting again Sat. Ismail said his govt had two priorities: get back on track with the IMF program and get out of FATF grey list. He seemed hopeful about 1/5
achieving both goals by June. As for IMF demands, Ismael said the fund wants fiscal and tax measures(the same ones as before) plus reversal of recent subsidies provided by @ImranKhanPTI.Ismael called those subsidies, in particular the recent subsidy on petrol and diesel, 2/5
"debilitating" for Pakistan's fragile economy. He called it a "subsidy from poor to rich."
He said his admin would have reversed the subsidy without IMF asking.
Saying that renewal of the program was very important for Pakistan, Ismael said his govt was ready to 3/5
He said his admin would have reversed the subsidy without IMF asking.
Saying that renewal of the program was very important for Pakistan, Ismael said his govt was ready to 3/5
do the necessary "belt tightening." Although he said they still intended to provide a subsidy for the poor. Taking a stab at his political rival party, the recently ousted admin of @ImranKhanPTI, Ismael said "their incompetence was legendary. . . . "Three out of four years 4/5
they forgot to import LNG. How do you forget to import LNG?" he asked. 5/5
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