Overview
- Pakistan received $1.32 billion from the IMF after the latest reviews, with the central bank confirming $1.1 billion under the EFF and about $220 million via the RSF.
- The IMF added 11 structural benchmarks, lifting total conditions to 55, including passing the FY27 budget to meet a 2% primary surplus goal and tightening tax, procurement and anti-corruption rules.
- Energy pricing is now on a fixed timetable, with gas tariff notices due July 1, 2026 and February 15, 2027 and a power tariff reset on January 15, 2027 to keep prices at cost-recovery levels.
- Revenue targets for FY27 include a Rs1.73 trillion petroleum levy and roughly Rs15.27 trillion in federal taxes, backed by Rs860 billion in new measures split between the center and provinces.
- The IMF warned the Middle East war could lift inflation, slow growth and widen the external gap, a risk for a country that gets most fuel from the Gulf and more than half of remittances from the region.