Prime Minister Shehbaz Sharif on Wednesday refuted all press reports, asserting that Pakistan would finish the programme, amid concerns over the postponement of the IMF's 9th assessment.

Although there have been virtual discussions between Pakistan and the IMF, disagreements remain regarding tax collection targets, non-starter energy reforms such as raising the gas tariff, rising circular debt, and expenditure overruns. As a result, it is more difficult to come to a consensus on a staff-level agreement in the context of the 9th review under the $7 billion Extended Fund Facility (EFF).

PM Shehbaz instructed the relevant authorities to encourage the exporters in order to boost exports and manage twin deficits during a significant meeting on the economy.

The economy was in dire straits, according to the prime minister, when the Pakistan Democratic Movement-led government took office in April after toppling Imran Khan as prime minister through a no-confidence vote.

He instructed the economic team to take action to finish the IMF plan and contain the expanding current account deficit, saying, "We stabilised the economy by working hard."

In response to the lender in Washington's worries, PM Shehbaz issued instructions directing the necessary ministries to develop energy programmes. He continued by saying that while the circular debt needed to be reduced, power generation should be boosted.

It should be mentioned that the government's decision to maintain the same gas rates led to an increase in the gas sector's circular debt, and the IMF had requested that Pakistan raise its gas tariff as a result.

No development was seen in the power industry, despite the government's attempts to improve the gas sector.

The monster of circular debt in the power sector reached Rs2.4 trillion, and all monthly and quarterly reduction targets set with the IMF were not met.

The subsidies on tube wells alone would increase the total circular debt in the current fiscal year by Rs200 billion.