Zardari tells IMF Pakistan committed to fiscal and energy reforms
President Asif Ali Zardari told an International Monetary Fund delegation on Tuesday that Pakistan remains committed to fiscal sustainability, energy sector reform, privatisation and social protection, describing the government's aim as inclusive and green economic growth. The meeting at Aiwan-e-Sadr in Islamabad was with Jihad Azour, director of the IMF's Middle East and Central Asia Department, according to a press release from the President's Secretariat.
According to the president's remarks, the economy reached $452.1 billion in fiscal year 2025-26, with real GDP growth accelerating to 3.7% from 3.2% a year earlier. He said the fiscal deficit had fallen to 2.6% of GDP in FY2025-26 and that the country had recorded a primary surplus for a third consecutive year. The figures were presented by the president and have not been independently verified in the statement.
Zardari cited the conclusion of the fourth review under the Extended Fund Facility and the third review under the Resilience and Sustainability Facility, together with the staff-level agreement, and said he was confident of continued progress towards what he called economic recovery and stability. He said the government would widen tax documentation, digitalise revenue collection and curb evasion, and that the programme had the backing of all political stakeholders, including provincial governments.
Azour acknowledged Pakistan's continued engagement under the programme and stressed the need to sustain reforms to strengthen macroeconomic stability, maintain fiscal discipline and support sustainable growth, the statement said. The delegation included Pakistan mission chief Iva Petrova and resident representative Mahir Binici. Finance Minister Muhammad Aurangzeb, Senator Sherry Rehman, Senator Saleem Mandviwalla, former finance minister Syed Naveed Qamar and the finance secretary also attended.
Pakistan remains engaged with the IMF under a $7 billion EFF and a $1.4 billion RSF. The staff-level agreement reached earlier this month is subject to approval by the IMF Executive Board; on approval Pakistan would have access to about $1 billion (SDR 760 million) under the EFF and about $210 million (SDR 154 million) under the RSF, taking total disbursements under the two arrangements to about $5.7 billion. The statement also noted that Pakistan will chair the Boards of Governors of the IMF and the World Bank Group in 2027, its first return to the leadership of both institutions since 1953.
