Sindh, KP, Balochistan brief IMF mission on floods; Punjab talks scheduled for today

ISLAMABAD: As Pakistan’s second half-yearly economic review with the International Monetary Fund (IMF) continues, provincial governments have begun presenting briefings on the devastating impacts of recent floods.

The discussions form part of Pakistan’s broader efforts to secure the next tranche, worth $1 billion, under the $7 billion Extended Fund Facility (EFF) agreed with the IMF last year.

Also read: PD releases latest report on power restoration in flood-affected areas

On Monday, representatives from Sindh, Khyber Pakhtunkhwa (KP), and Balochistan met with the IMF mission, providing updates on the widespread destruction caused by the floods. Officials from Sindh and KP shared that assessments of the damage are still ongoing. They said that the full impact of floods is still being measured on economic disruptions, infrastructure losses, and emerging social challenges.

“The process of gauging the full extent of the destruction is complex and still underway,” a senior provincial official said.

PUNJAB PRESENTS ITS FLOOD DAMAGE REPORT TODAY

Representatives from the provincial government of Punjab are scheduled to present detailed briefing on flood damage in the province today. Sources confirmed that Punjab’s presentation will include estimates of provincial losses, current and planned recovery measures, and financial requirements necessary to address the post-flood crisis.

The IMF has also requested updates on several key structural reforms. Among the key projects are Pakistan’s progress on anti-money laundering efforts, including the formation of provincial-level enforcement agencies and steps taken to strengthen asset declarations for government officials in grades 17 through 22.

A senior Finance Ministry official told media that the IMF is closely reviewing Pakistan’s implementation of the Governance and Corruption Risk Assessment Report. However, delays in finalising the report have been acknowledged during the talks.

The IMF is also seeking clarity on legislative steps aimed at improving transparency and accountability within provincial administrations. In addition, the IMF has asked for performance evaluations for the first quarter of the current fiscal year, as well as updates on fiscal reforms, including the National Fiscal Package and capital market developments.

Also read: CM Punjab announces special package for flood-affected students

So far, Pakistan has received $2.1 billion under the IMF agreement signed in September 2024. With flood damages putting additional pressure on an already fragile economy, Islamabad is pushing for flexibility in fiscal targets and expedited disbursements to support recovery efforts.