Finance Minister Muhammad Aurangzeb has expressed optimism over the ongoing negotiations with the International Monetary Fund (IMF), in which they say that conversations are in their last stages and that there are no significant obstacles left.

In a speech with the media on Friday, the minister confirmed that Pakistan is about to meet the IMF’s financial goals and assured that the discussions will soon end positively.

Aurangzeb emphasized Pakistan’s obligation to fiscal discipline and highlighted the government’s compliance with the financial framework agreed with the IMF.

Negotiations are focused on ensuring the next tranche of funding, which is crucial to Pakistan’s economic recovery.

The IMF mission manager to Pakistan, Nathan Porter, also confirmed last week that significant progress had been made to reach a staff agreement (SLA) regarding the first $ 7 billion review of Pakistan’s loan program.

The success of these conversations will pave the way for Pakistan to receive about $ 1 billion as part of the second installment of the loan.

In addition, Aurangzeb addressed challenges with climate change and emphasized the urgent need for structured climate financing to combat environmental risks.

He acknowledged the rising threats that make up climate change, including the rapid melting of glaciers and economic disorders caused by environmental changes, especially in Lahore.

The Minister of Finance also highlighted international promises of flooding rehabilitation, although the country has struggled to fully utilize these resources due to implementation challenges.

Earlier on Thursday, central bank governor, Jameel Ahmad, said there was no obstacle from the State Bank of Pakistan (SBP )’s page of reaching a staff agreement with the International Monetary Fund (IMF), and any outstanding issues may be related to the federal government.

While talking to the media after a meeting of the Public Accounts Committee (PAC), the governor hoped that the agreement at the staff level would be reached very soon with the IMF. However, he did not deliver a fixed date for the deal, which has been too late since March 14.

The PAC meeting also revealed that the federal government was giving “imperial powers” to federal Finance Minister Muhammad Aurangzeb to approve up to five special fees for employees and officers in various government departments.

“There is no problem pending with us, and any outstanding question may be from the federal government,” Jameel Ahmad said, answering a question about the time of the staff’s agreement with the IMF. The governor did not specify any special question, but stated that it takes time to end cases with ministries and departments.

Pakistan and IMF held conversations from March 3 to 14, but both sides could not reach a staff level due to delays in the completion of the Memorandum of Economic and Economic Policy (MEFP). After the mission returned to Washington, the Ministry of Finance held at least two virtual sessions with the IMF in the presence of other stakeholders.

The IMF and Pakistan are in the process of ending MEFP in trade and taxes along with tax and circular debt numbers. The federal authorities are still hopeful that the agreement will soon be achieved. According to the IMF Board’s schedule, the first program review and End-December 2024 benefit and continued criteria must be completed by March 15.