As the general elections are just around the corner, the economic battleground takes center stage with the International Monetary Fund (IMF) at the forefront of challenges awaiting the next government.

The initial task for the incoming government involves navigating the next review and securing the last tranche of the ongoing Stand-By Arrangement (SBA), followed by negotiations for a potential three-year programme. The complexity arises as the required actions diverge from the public claims made by both major parties, PMLN and PPP.

Despite caretakers’ persistent efforts, the third IMF review is unlikely to commence before the elections. The IMF mission is expected in late February or early March after the formation of the new government, with a staff-level agreement (SLA) projected by mid-March and the IMF tranche targeted for mid-April.

A critical point of contention in the upcoming review revolves around another revision of energy prices, encompassing both electricity and gas. Despite successive tariff hikes, the relentless growth of circular debt in........

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