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Finance adviser Shaukat Tarin leaves US without concluding IMF talks: report

22 اکتوبر 2021
Shaukat Tarin Tarin will now be a member of the Advisory Council instead of the finance minister. File photo
Shaukat Tarin Tarin will now be a member of the Advisory Council instead of the finance minister. File photo

Adviser to Prime Minister on Finance and Revenue Shaukat Tarin left Washington on Thursday without concluding the International Monetary Fund talks for resumption of $6 billion tranche of loan facility to the country, according to Dawn.

According to the report, Finance Secretary Yousaf Khan is still in the US capital to pursue the talks which could bring a relief to the financially starved country.

In another report, Dawn said a member of Tarin's team told journalists on Wednesday that talks would continue for another day and the two sides would issue a joint statement on Thursday in which details of the agreement would be announced.

However, no such statement was issued till the filing of this report.

Tarin, who first arrived in the US at the beginning of the month, had left for New York on October 15 while the negotiations with the IMF for the Extended Fund Facility (EFF) were in progress.

The prime minister's adviser joined State Bank of Pakistan Governor Reza Baqir and Deputy Governor Murtaza Syed in New York and held a meeting with officials from Gold Snachs, according to the country's consulate general tweet.

Soon the news emerged that Tarin-- who held the position of finance minister when he arrived in the US -- had left the IMF talks in between. However, a Finance Ministry official rejected the news of inconclusive talks with the IMF and tweeted that Tarin returned to Washington to join ongoing talks with the IMF.

A notification was issued on Monday stating that Tarin was appointed the PM's adviser as his six-month tenure in the federal cabinet to work as a non-elected member had expired on October 16.

During his visit to the US, Tarin held a meeting with IMF Managing Director Kristalina Georgieva wherein they reviewed the ongoing collaboration between Pakistan and the fund and agreed to remain engaged, according to a tweet by Pakistan's envoy to the US Asad Khan.

In another tweet, Khan shared picture of a meeting, saying Tarin interacted with representatives of top US companies at a lunch hosted by US-Pakistan Business Council (USPBC). "He shared government’s [of Pakistan's] measures to attract foreign investors and invited US companies to invest in Pakistan."

In related news, IMF’s Middle East and Central Asia Department Director Jihad Azour said on Tuesday the talks between the IMF and the government of Pakistan on the Sixth Review of the $6 billion EFF have progressed to a “very good step”.

On Thursday Tarin left Washington and is expected to join Prime Minister Imran Khan on his visit to Saudi Arabia this weekend, according to the Dawn report.

In other news, President Dr Arif Alvi on Thursday signed the summary to retain Tarin as member of the National Economic Council (NEC).

The president gave the approval on the advice of the prime minister under Article 156 of the Constitution, the President’s media office said.

Tarin will now be a member of the Advisory Council instead of the finance minister.