ISLAMABAD – Finance Minister Muhammad Aurangzeb has confirmed that an International Monetary Fund (IMF) mission will visit Pakistan at the end of September for the next economic review, with the country expecting to secure a $1 billion tranche upon its completion.
Speaking to reporters during Independence Day celebrations hosted by the Rawalpindi Chamber of Commerce and Industry (RCCI) on Wednesday, Aurangzeb said preparations for the review were complete. He also noted that the IMF has projected Pakistan’s GDP growth at 3.6% for FY26 — slightly below the government’s target of 4.2%.
The minister hinted at further cuts to the policy rate before year-end, citing a consistent decline in both average and core inflation. “The policy rate is at 11% at present, and while it’s the domain of the State Bank of Pakistan, I believe there is room for more reductions this year,” he remarked.
Aurangzeb stressed the link between national security and economic stability, pointing to recent progress in stabilising the rupee, boosting revenues, and lowering the policy rate. He said agricultural loans had exceeded Rs2.5 trillion, and debt servicing last year reached Rs1 trillion.
Highlighting government achievements, the minister said agreements with the IMF, the United States, and China were in place, Panda bonds would be issued by year-end, and Sukuk benchmarks had been set. He added that company registrations have crossed 250,000, loans to the private sector are up 38%, and reforms in tax administration are ongoing — with assurances that the salaried class will not bear additional burdens.
Aurangzeb also revealed plans to right-size 45 ministries, accelerate privatisation of state-owned enterprises, and reduce energy costs through revised agreements with independent power producers. He said international rating agencies Fitch and S&P had upgraded Pakistan’s credit outlook, reflecting global recognition of reforms.
The RCCI marked Pakistan’s 78th Independence Day with a flag-hoisting ceremony and “Marka e Haq” celebrations, attended by the finance minister as chief guest. RCCI President Usman Shaukat urged the government to cut interest rates, reduce energy tariffs, and lower taxes to stimulate business growth.
