Washington: Pakistan’s economic delegation, led by Finance Minister met with International Monetary Fund (IMF) Deputy Managing Director Kenji Okamura during annual meetings of IMF and World Bank.

Pakistani delegation requested climate financing of $ 1.5 to $ 2 billion to help mitigate impacts of environmental changes in country. In response, IMF officials assured that request would be considered. Meeting, attended by key officials, including Finance Secretary and Governor of State Bank of Pakistan, covered range of economic issues.

Sources said Pakistani side informed IMF officials of expanding tax base, aligning provincial agricultural income taxes with federal taxation, balancing subsidies and exploring ways to reduce energy prices to increase financial resources. Actions related to acceleration of private sector development, as well as continuation of prudent policies in financial and external sectors, were also discussed.

IMF Deputy MD emphasised importance and need for Pakistan to continue implementing reforms as recommended by IMF, highlighting their importance for long-term economic stability. In separate meeting with IMF Director Jihad Azour, Pakistani delegation expressed gratitude for IMF’s support in stabilising Pakistan’s economy through approval of $ 7 billion Extended Fund Facility.