Pakistan and the International Monetary Fund (IMF) commenced formal discussions on Tuesday as part of the ongoing first review of the country’s economy under the lender’s $7 billion loan program.

Finance Minister Muhammad Aurangzeb led the Pakistani delegation, while the IMF team was headed by Mission Chief Nathan Porter.

During the meeting, Pakistani officials presented key economic indicators covering the period from July to February. The briefing included an assessment of the fiscal deficit, primary balance, provincial surpluses, and trends in revenue collection. Data shared with the IMF delegation revealed that the fiscal deficit reached Rs. 1,537 billion from July to December.

Representatives from various key finance divisions, including the Economic Wing, Budget Wing, External Finance Wing, Regulations Wing, and the Directorate General of Debt, participated in the discussions. Rashid Mahmood Langrial, Chairman of the Federal Board of Revenue (FBR), provided insights on revenue collection, with FBR officials and board members also contributing to the talks.