In a surprising move, the Finance Ministry has decided to cancel the public holiday initially slated for 9 November 2023, which was intended to commemorate Allama Iqbal Day, but only for its employees. This decision has been made in light of the crucial pre-scheduled meetings with the International Monetary Fund (IMF).
The Finance Ministry’s announcement states, “The Finance Secretary has declared 9th November 2023, which was previously designated as a public holiday, as a working day in the Finance Division. This change is in connection with the pre-scheduled meetings with the visiting IMF Review Mission.”
It’s essential to clarify that this cancellation only affects employees of the Finance Division, and the public holiday for 9 November 2023 remains unchanged for everyone else.
The Finance Ministry has been actively engaged in discussions with the International Monetary Fund (IMF) concerning the ongoing review of Pakistan’s $3 billion Standby Arrangement. The decision to convert the public holiday into a working day is a testament to the government’s commitment to these crucial negotiations.
If the IMF determines that Pakistan’s performance meets their standards, they are poised to release a second tranche of $700 million, a development that could have significant implications for the country’s economic stability and growth. The Finance Ministry’s decision to prioritize these meetings underscores the importance of securing this vital financial support from the global lender.
This move serves as a reminder of the Finance Ministry’s dedication to addressing the country’s financial challenges and ensuring that Pakistan remains on track for economic recovery and development.
