Why…Ministry of Finance Declares 9th November a Working Day for IMF Meetings
On November 9, 2023, the Ministry of Finance has decided to cancel the public holiday and designate it as a regular working day. This adjustment aims to accommodate pre-arranged meetings with the International Monetary Fund (IMF) regarding the ongoing evaluation of Pakistan’s $3 billion Standby Arrangement.
The Finance Secretary, in a circular dated Monday, November 6, stated, “Finance Secretary has declared 9th November 2023 (a public holiday) as a working day in Finance Division in connection with the pre-scheduled meetings with the visiting IMF Review Mission.”
This change in schedule applies specifically to employees within the Finance Division.
Additionally, it has been emphasized, “All the Additional Finance Secretaries/Heads of the Wings are requested to ensure attendance of Officers/Officials, as above.”
Discussions with the IMF began late last week, with both parties exchanging crucial data to expedite the ongoing review process.
If the IMF is content with Pakistan’s performance during the review, an additional $700 million is anticipated to be disbursed. The positive outcome of this review will undoubtedly carry significant implications for the country’s economic stability and its ability to continue receiving vital financial support from the crisis lender.
