The executive board of the International Monetary Fund (IMF) is scheduled to meet in the first week of May, with approval of $1.2 billion likely for Pakistan under the ongoing loan program, confirmed finance ministry officials.

According to the ministry, there are no obstacles in releasing the next installment of the IMF loan program, as Pakistan has met all key conditions set by the fund.

Officials added that Pakistan is also set to receive $1 billion under the Extended Fund Facility (EFF) program and $210 million under the climate financing Resilience and Sustainability Facility (RSF) alongside the main tranche.

Authorities said the IMF has been kept informed about the government’s targeted petroleum subsidy program. Any increases in global oil prices will be consulted with the fund before being passed on to consumers, ensuring transparency and coordination with the IMF.