PM says IMF raises no serious concerns over Rs100 subsidy after meeting Georgieva at UNGA | The Express Tribune

Prime Minister Shehbaz Sharif on Wednesday said the International Monetary Fund (IMF) had not expressed any serious concerns over Pakistan’s targeted subsidy of Rs100 per litre during his meeting with the Fund’s managing director on the sidelines of the United Nations General Assembly session in New York.

Speaking to The Express Tribune after meeting IMF Managing Director Kristalina Georgieva on the sidelines of the 81st UN General Assembly, the prime minister said he had briefed her in detail on the pressure Pakistan faces and the difficulties confronting low-income people.

“We drew the IMF chief’s attention to the question of where the poor man would go,” the premier said, adding that the targeted subsidy was being distributed through a comprehensive and transparent mechanism.

Earlier this month, PM Shehbaz announced a special relief scheme offering Rs100 per litre off petrol for motorcycles, three-wheeler rickshaws, and cars with engines up to 800cc, in an attempt to shield lower-income consumers from the impact of rising petroleum prices.

Later, in a post on X, the IMF managing director hailed Pakistan’s implementation of reforms, saying they had helped preserve stability, restore confidence and regain market access.

“I had the opportunity to meet with Prime Minister Shehbaz Sharif on the margins of UNGA to discuss Pakistan’s reforms,” she said.

“Continuing reforms will help boost economic growth and improve the living standards of the people,” said the IMF chief.

PM Shehbaz, IMF chief discuss reforms, subsidy: PMO

Meanwhile, PM Shehbaz appreciated the IMF’s continued support for Pakistan’s economy and reaffirmed his government’s “unwavering commitment” to the successful implementation of the IMF-supported reform programme, according to a statement issued by the Prime Minister’s Office.

In meeting with the IMF chief, the prime minister particularly appreciated Georgieva’s role in strengthening Pakistan’s constructive partnership with the Fund.

He reaffirmed the government’s strong ownership of the economic reform agenda and reiterated Pakistan’s resolve to maintain the momentum of reforms and advance structural measures aimed at strengthening the economy and laying the foundations for sustainable and inclusive growth.

“Despite regional conflict and external inflationary pressures, Pakistan is successfully transitioning from macroeconomic stabilization towards a recovery path, supported by prudent fiscal and monetary policies,” the prime minister noted.

Highlighting the improvements in fiscal discipline, external buffers and investor confidence, the premier cited the National Tariff Regime, enhanced domestic revenue mobilisation and progress on privatisation as examples of Pakistan’s efforts.

He also underscored the government’s commitment to protecting vulnerable segments of society alongside maintaining economic reforms.

The IMF managing director appreciated Pakistan’s performance under the IMF programme and the government’s efforts for economic stabilisation, saying these were yielding tangible results.

The two leaders also discussed Pakistan’s forthcoming IMF programme review and continued cooperation between Pakistan and the Fund in advancing reforms, strengthening economic resilience and supporting sustainable growth.

Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, Finance Minister Muhammad Aurangzeb, Adviser on Privatisation Muhammad Ali, Special Assistant to the Prime Minister Tariq Fatemi and other senior officials were also present during the meeting.

PM Shehbaz, EU leaders discuss trade, GSP Plus

Prime Minister Shehbaz Sharif on Wednesday met President of the European Council António Luís Santos da Costa and President of the European Commission Ursula Gertrud von der Leyen on the sidelines of the event in New York, with the leaders reviewing the “full spectrum” of Pakistan-European Union relations.

Prime Minister Shehbaz Sharif on Wednesday met President of the European Council António Luís Santos da Costa and President of the European Commission Ursula Gertrud von der Leyen on the sidelines of the United Nations General Assembly in New York, with the leaders reviewing the “full spectrum” of Pakistan-European Union relations..

According to a statement issued by the Prime Minister’s Office, the leaders expressed satisfaction at the growing momentum in high-level exchanges and engagement between Pakistan and the EU.

The prime minister reaffirmed Pakistan’s commitment to further strengthening its broad-based partnership with the European Union and to the full implementation of the Pakistan-EU Strategic Engagement Plan.

He underscored the importance of sustained leadership-level engagement in providing greater direction and momentum to the relationship.

PM Shehbaz also highlighted the importance of GSP Plus for Pakistan’s economic development, employment generation and trade with the European Union, and reiterated Pakistan’s commitment to continued engagement with the EU under the framework.

The leaders exchanged views on regional and global developments and reaffirmed the importance of “dialogue, diplomacy, international law and peaceful resolution of disputes”.

The prime minister reiterated his invitation to the presidents of the European Council and European Commission to visit Pakistan and expressed his desire to continue working closely with the EU leadership to further deepen the “mutually beneficial partnership”.

Meanwhile, in a post on X, Leyen described the engagement with PM Shehbaz as a “very good meeting”, saying the EU valued its partnership with Pakistan.

She added that the Strategic Engagement Plan reflected both the breadth of the partnership and the shared commitment to democracy, the rule of law, human rights and civic space, with the two sides working together on stability and security.

“We thanked the Prime Minister for his initiative to mediate in the conflict between the US and Iran,” she said, adding that Pakistan was playing an important role in support of de-escalation, dialogue and the peaceful resolution of conflicts.

Leyen said the two sides also discussed ways to take their partnership forward, including trade and addressing illegal migration.