Key Takeaways
- Ministry of Planning requests inclusion in IMF negotiations.
- Planning Minister Ahsan Iqbal argues for economic policy discussions.
- Pakistani delegation led by Finance Minister and Finance Secretary.
The Ministry of Planning has formally requested Prime Minister Shehbaz Sharif to include it in the core team for upcoming negotiations with the International Monetary Fund (IMF), alongside the Finance Division. This request comes ahead of the IMF review mission’s talks with Pakistani authorities in Islamabad this week.
Planning Minister Ahsan Iqbal stated that the ministry had written to the prime minister, arguing that discussions with the IMF cover areas such as economic growth, inflation, and poverty, which fall within its domain. The Planning Ministry’s request is seen as an attempt to restore a role it previously held in economic policymaking.
Iqbal noted that the Planning Commission played a central role in economic policy during the 1960s, 1970s, and 1980s, while the Finance Division’s influence increased from the 1990s onward. He emphasized the importance of pursuing growth driven by exports and private sector investment, rather than the reported 6 percent growth rate under the PTI government, which he attributed to higher consumption and imports.
The Monthly Development Outlook highlighted future development efforts focusing on improving public investment, speeding up priority projects, and strengthening implementation capacity. It also identified private investment, exports, productivity, technology, human capital, and climate resilience as priorities for broader and sustainable growth.
Iqbal criticized the PTI government’s reported 6 percent growth rate, stating that it was driven by higher consumption and imports and contributed to a decline in foreign exchange reserves. He expected inflation to return to single digits if peace was achieved in the Gulf region and the recent increase in prices eased in the coming weeks and months.
The Pakistani delegation for the IMF talks will be led by the finance minister, while Finance Secretary Imdad Ullah Bosal will lead the technical level discussions. The Planning Ministry’s request is seen as a strategic move to ensure a comprehensive approach to economic policymaking during the negotiations.
The Planning Ministry’s request marked an attempt to restore a role it previously held in economic policymaking.
Ahsan Iqbal, Planning Minister
