ISLAMABAD, 28 September, 2026 (Kamran Raja): Formal negotiations between Pakistan and the International Monetary Fund (IMF) are set to begin today, with Pakistani authorities scheduled to brief the IMF on a range of economic and fiscal matters. Pakistan will provide an update on the Sovereign Wealth Fund and measures to reduce the circular debt. The IMF will also be briefed on the reasons for not deregulating the sugar sector, the current account position, the primary surplus, foreign exchange reserves and the exchange rate situation. Talks between the IMF and the Federal Board of Revenue (FBR) will focus on expanding the tax base and implementing tax reforms. The National Accountability Bureau (NAB) and the Federal Investigation Agency (FIA) will brief the IMF on measures to combat money laundering and prevent terrorist financing. The Ministry of Energy will provide a briefing on circular debt and sectoral reforms, while discussions with the provinces will cover measures to improve tax and non-tax revenue collection. The negotiations are expected to review Pakistan’s progress on economic reforms and commitments under the IMF programme.