Islamabad: Pakistan is preparing for the next review of its economic programme with the International Monetary Fund (IMF), with the Fund’s mission scheduled to arrive on September 23.
The review will assess Pakistan’s economic performance and progress on key commitments for the period ending June 30, 2026. The mission is expected to stay in Pakistan for nearly two weeks, with discussions likely to continue into the first week of October.
The talks will cover the $7 billion Extended Fund Facility (EFF) as well as Pakistan’s $1.4 billion Resilience and Sustainability Facility (RSF). The EFF’s fourth review and the RSF’s third review are scheduled to examine performance through June 2026.
The discussions are expected to begin with technical meetings before moving to talks with the Ministry of Finance and other government departments. Economic data, programme targets and progress on agreed reforms will be among the issues under review.
Revenue collection is expected to be an important part of the discussions. The IMF will examine tax collection and the performance of the Federal Board of Revenue, along with measures aimed at broadening the tax base. The Fund has identified stronger public finances and wider revenue mobilisation as key priorities under the programme.
The energy sector will also remain on the agenda. Discussions are expected to cover reforms aimed at improving the sector’s financial sustainability and addressing issues affecting its long-term viability. Energy-sector reforms have remained an important part of Pakistan’s IMF programme.
The review will also look beyond past performance. Pakistan and the IMF are expected to discuss the implementation of reforms in the months ahead, including measures related to public finances, state-owned enterprises, competition and economic competitiveness.
The outcome of the review will be important for Pakistan’s IMF programme. However, any new disbursement would remain subject to completion of the review and the IMF’s required approval process.
The IMF’s Executive Board completed Pakistan’s previous EFF review in May 2026. That review released about $1.1 billion under the EFF and around $220 million under the RSF, taking total disbursements under the two arrangements to about $4.8 billion.
For Pakistan, the upcoming talks come as the government works to maintain fiscal discipline, strengthen revenue collection and continue reforms in the energy and public sectors. The discussions will therefore provide an assessment of progress made through June while also setting the focus for the next phase of the IMF programme.
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