ISLAMABAD: (Ahmed Mughal): A Pakistani Parliamentary Body wants to meet with IMF team next week.

The Standing Committee on Finance of the National Assembly met here under the chairmanship of Asad Umar here in Islamabad.

The committee members unanimously rendered its consent for holding the meeting with the IMF delegation on 17th September.

Director Middle East and Central Asia Department (MCD) IMF will lead the delegation. Mission Chief for Pakistan and The IMF’s Resident Representative for Pakistan will also part of the delegation.

The Pakistan and IMF had inked an agreement $6 billion loan program in May 2019. The country has already received one billion dollar from IMF as first tranche of the loan. There is public perception that the Govt has accepted tough conditions of the IMF team to secure loan program. There is opinion that the IMF conditions are main contributors for increasing inflation rate.

The officials of Pakistan Bureau of Statistics also briefed the committee on inflation. The committee noted that increasing in PoL prices and currency depreciation are main contributors for inflation.

The officials also told the inflation surged by 11.6 percent during August as compare to the same month of last year.

The committee also formed three-member sub-committee to look into the matter of inflation. The sub-committee will also give suggestions to control the inflation. Former Finance Minister Punjab Aysha Ghous Pasha will preside the committee.

The Committee recommended that Ministry of Finance will brief the Committee on debt management and its planning for next five years in the month of October, 2019.

It also decided that FBR will brief on tax collections situation during next month.

Secretary Finance informed the Committee about the details of domestic and external debts upto 30th June, 2019.

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