The International Monetary Fund (IMF) has reportedly imposed 11 new conditions on Pakistan under its ongoing financial programme, raising the total number of requirements to 55, according to its latest review report.
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The new conditions focus on tightening fiscal discipline, strengthening tax reforms, and improving key economic governance structures. Among the most significant measures outlined are planned adjustments in energy pricing, including increases in gas and electricity tariffs over the next two years.
According to the report, gas tariffs are scheduled to be revised in July 2026 and again in February 2027, while electricity tariffs are expected to be adjusted in January 2027. These changes are part of broader efforts to reduce circular debt and improve the financial sustainability of Pakistan’s energy sector.
The IMF has also called for institutional reforms, including measures aimed at enhancing the independence, accountability, and transparency of the National Accountability Bureau (NAB). Officials say these reforms are intended to strengthen governance and improve investor confidence.
While acknowledging Pakistan’s progress under the current programme, the Fund noted that several tax-related reforms remain incomplete. It urged authorities to accelerate implementation to ensure long-term fiscal stability and improved revenue generation.
The report also highlighted external risks, warning that geopolitical tensions, including the ongoing conflict involving Iran, could contribute to inflationary pressures and disrupt trade and external payments.
Despite these concerns, the IMF praised Pakistan’s recent macroeconomic performance. It noted that GDP growth has picked up in the first half of the fiscal year, inflation remains largely contained, and the current account deficit has stayed broadly stable.
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Foreign exchange reserves also showed improvement compared to earlier projections, reflecting what the Fund described as gradual economic stabilisation.
The IMF emphasised that continued reform momentum will be critical for sustaining recovery, improving resilience against external shocks, and ensuring long-term economic stability for the country.