Finance Ministry Suddenly Cancels 9 November Public Holiday for IMF Review

The Ministry of Finance has scrapped the public holiday on 9 November and declared it a working day to cater pre-scheduled meetings with the International Monetary Fund (IMF) on the ongoing review of Pakistan’s $3 billion Standby Arrangement.

“Finance Secretary has declared 9th November 2023 (a public holiday) as a working day in Finance Division in connection with the pre-scheduled meetings with the visiting IMF Review Mission,” the ministry said in a circular dated Monday, 6 November.

The working day has been notified for employees of the Finance Division only.

“All the Additional Finance Secretaries/Heads of the Wings are requested to ensure attendance of Officers/Officials, as above,” it added.

The talks with the IMF commenced late last week with both sides sharing critical data for fast-tracking the ongoing review.

If the lender is satisfied with Pakistan’s performance during the review, a second tranche of $700 million is expected to be disbursed. The successful outcome of the review will undoubtedly have far-reaching implications for the country’s economic stability and its ability to secure continued financial support from the crisis lender.

Source: Pro Pakistani