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Staff-level agreement within reach as Pakistan, IMF advance talks
- Talks mainly focused on economic reforms and fiscal stability.
- 2 car import schemes nixed; residence transfer rules tightened.
- 2nd $7bn EFF review, 1st $400m RSF tranche pending completion
Pakistan and the International Monetary Fund (IMF) have made significant progress toward a staff-level agreement on key economic reviews, the fund said on Thursday, following detailed discussions on fiscal reforms and financial stability measures.
An IMF team visited Karachi and Islamabad from September 24 to October 8, 2025, to hold discussions on the second review of the Extended Fund Facility (EFF) and the first review under the Resilience and Sustainability Facility.
Officials said the talks focused on assessing Pakistan’s ongoing economic reforms and the steps needed to strengthen fiscal stability and sustainability.
Pakistan and the IMF were scheduled to conclude review talks on Wednesday for the completion of the second review under the $7 billion Extended Fund Facility (EFF) and the first tranche of $400 million under the Resilience and Sustainability Facility (RSF) of $1.4 billion.
The IMF has set a deadline for obtaining approval from the Economic Coordination Committee (ECC) of the Cabinet for the abolition of two schemes and the tightening of the third one within the current month.
On the tariff rationalisation plan, both sides agreed that the two schemes under the baggage rules and the gift scheme for importing cars would be abolished. For the third scheme, the Transfer of Residence, vehicles will only be imported from a country where the individual has stayed for at least one year, and misuse of this scheme will be curtailed.
One official commented that all vehicles, whether from Japan or the UK, are imported to Dubai first and then brought into Pakistan, so the misuse of imported cars must be curtailed.
Pakistan and the IMF are still working to evolve a consensus on the release of the GCD Assessment report, which remains a bone of contention between the two sides. According to insiders, the government established a task force to conduct a detailed review of the vague anti-corruption framework and shared it with the IMF. The task force recommended that the FBR notify draft rules about the “Declaration of Assets of Civil Servants serving in Basic Pay Scale 17-22 and their spouses.”
It also recommended making amendments in the Civil Servants Act, 1973, to allow for the publication of Assets and Liabilities of Civil Servants; making amendments in the Elections Act to mandate Non-Elected Advisors and Special Assistants to the Prime Minister to furnish their statement of assets and liabilities; and making necessary amendments in the NAB Ordinance and the FIA Act to ensure a clear mandate definition, prepare a joint offence list, and establish coordination mechanisms between the two agencies to work harmoniously on offences where both have jurisdiction.
Further recommendations include providing training on jurisdictional boundaries to officers of the NAB, FIA, and Provincial Anti-Corruption Establishments (ACEs); making arrangements for repatriating investigating officers of the FIA posted at airports for processing immigration and tasking that responsibility to another force; and investing in technology, capacity building, and training of the FIA, NAB, and provincial ACE investigators to bring them on par with their regional counterparts.
Additionally, the task force advised conducting awareness campaigns to instill a culture of integrity among officials and educate the public on their right to seek disclosure of public information under the Right to Information Act and on the regulatory framework for reporting corrupt practices; making provisions for the appointment of lawyers through open advertisement based on specific expertise to ensure quality prosecution and for the appointment of independent members of the legal fraternity in special courts on judicial assignments; and empowering Provincial Anti-Corruption Establishments to handle money laundering cases at the provincial level.
The recommendations also include establishing a central coordination forum for assistance in investigation, forensics, intelligence sharing, and addressing jurisdictional issues; ensuring that Chief Internal Auditors are appointed within Ministries and Divisions as required by the Public Finance Management Act; and ensuring strict compliance with the State-Owned Enterprises (Governance and Operations) Act, 2023, and that government entities are run in line with section 36 of the Public Finance Management Act, 2019.
The Devil Wears Prada 2 actress Meryl Streep was moved to tears during a French television interview when she received a surprise video message from Jennifer Lawn Lejeune.
Lejeune played her daughter in the 1982 Holocaust drama Sophie’s Choice.
Appearing on Journal de 20 heures alongside Stanley Tucci to promote the highly anticipated sequel of Devil Wears Prada, Streep was handed a tablet by host Laurent Delahousse.
Her expression shifted from calm to stunned as she realized she was watching Lejeune, who portrayed Eva Zawistowska in Alan J. Pakula’s searing film.
Lejeune recalled the bond she shared with Streep on set in her own interview for 20 heures, saying, “I even told my mother that [Streep] was my favorite mother, because Meryl Streep was always nice to me and playing with me.”
Streep’s eyes welled with tears as she clutched her chest, asking, “That’s the child?”
When told it was indeed Lejeune, now living in Paris, she exclaimed, “Oh my God, that’s amazing.”
She thanked the host for what she called “a gift,” adding, “Journalists never give me gifts!”
Lejeune, who later married a French national and now works in finance, recalled the harrowing shoot of the film’s defining scene: Sophie’s devastating choice at Auschwitz.
Though expected to be filmed once, the moment was repeated 13 times, leaving the young actress convinced “it was the end of the world.”
She credited her bond with Streep for helping her tap into the raw emotion.
The State Bank of Pakistan (SBP) raised its benchmark policy rate by 100 basis points (bps) to 11.5% on Monday, opting for cautious tightening as oil price volatility and renewed inflation risks clouded the economic outlook.
The move came as the Monetary Policy Committee faced a finely balanced decision. A Reuters poll had shown that six of 10 analysts expected the central bank to keep the rate unchanged at 10.5%, while three forecast a 50-basis-point hike and one expected a larger 100-basis-point increase.
Pakistan’s CPI inflation quickened to 7.3% year-on-year in March from 7% in February, breaching the SBP’s 5%–7% target range. Some analysts warned that inflation could move towards double digits in the fourth quarter of the fiscal year if external pressures persisted.
Oil prices have remained volatile due to the Iran-US conflict, keeping global markets on edge and raising concerns over Pakistan’s import bill.
The SBP has cut rates by a cumulative 1,150 basis points since June 2024, when they peaked at a record 22%, and last reduced the rate by 50 basis points in January.
Prince Harry, who lives in Montecito with his wife Meghan Markle and their two children Archie and Lilibet, is said to be taking all measures to protect his children from an unseen threat.
The Duke of Sussex, 41, still can’t rescue himself from the shadow of a formidable incident that took her mother Princess Diana’s life, leaving him with a life-long trauma.
King Charles’ estranged son has spoken candidly about the enduring pain of his mother’s passing at her prime age. she was just 36.
Now, Harry’s deepest concern is that his and Meghan’s children could one day be drawn into the same celebrity spotlight that preceded Princess Diana’s fatal crash in paris in 1997.
Prince William’s younger brother Harry made the remarks during a public discussion on fatherhood at a Movember charity event in Melbourne, Australia.
Speaking on stage about the period before the birth of his son Archie Mountbatten-Windsor, now six, in 2019, and daughter Lilibet Mountbatten-Windsor, four, in 2021, Harry revealed undergoing therapy to address unresolved grief stemming from Diana’s tragic death.
Undoubtedly, Harry’s deep-rooted fear about his own past adds to his worries about his kids.
He’s taking all measures to secure their children from any untoward situation as the spotlight that surrounded Diana is something he has never escaped.
He does not want to live in the fear that his children could also face similar pressures as for Harry, the memory of his mother’s crash isn’t just history. It’s a constant warning.
His biggest fear is that if his children are pulled too far into the celebrity world, they could be exposed to the same dangers that led to his mother’s death, one insider told Radar.
Araghchi arrives in Russia for close consultations on regional, international issues
SBP raises policy rate by 100bps to 11.5% citing ‘risks to macroeconomic outlook – SUCH TV
‘Devil Wears Prada 2′ Meryl Streep reacts to surprise from on‑screen daughter
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