In a statement after the news conference, Dar said that Pakistan has no plans to capture the commercial bank’s foreign reserves, hoping that the central bank’s reserves will improve soon.
“They (IMF) think that we should take some fiscal measures, like if there are some non-budgetary subsidies,” he said, adding that the latest discussion narrowed down the issues on the IMF’s agenda.
“We will achieve all our budgetary targets,” he said.
Dar said the IMF has taken subsidies in the export and agriculture sectors and energy reforms, adding: “We will do it but it will not be a burden on any common man, it will be very targeted and graded.”
The minister did not specify whether the subsidy would be cut or withdrawn completely, saying it would be worked out, adding that the gas sector’s debt would be reduced by dividends from companies.
Pakistan’s electricity regulator has already allowed Sui Northern Gas Pipeline Limited (SNGPL) and Sui Southern Gas Company (SSGC) to hike tariffs by up to 75%, subject to cabinet approval.