KARACHI: The top International Monetary Fund (IMF) official in Pakistan confirmed on Saturday the global lending agency will send a delegation to Islamabad next week to discuss the “next phase of engagement” with the government that has publicly expressed its interest in securing a larger and longer-term loan.
Last month, the country’s finance minister, Muhammad Aurangzeb, told a media briefing Pakistan was hoping to reach a staff-level agreement with the IMF for a new loan “by June or early July.”
His statement came at a time when the country’s short-term IMF loan program of $3 billion was about to expire after its successful completion.
However, he did not elaborate much on the government’s preference for the size and duration of the next loan facility, saying these issues would be discussed during negotiations with the IMF team.
“A mission team led by Nathan Porter, IMF’s Mission Chief to Pakistan, will meet with authorities next week to discuss the next phase of engagement,” Esther Perez Ruiz, IMF Resident Representative for Pakistan, told Arab News in response to a query.
“The aim is to lay the foundation for better governance and stronger, more inclusive, and resilient economic growth that will benefit all Pakistanis,” she added.
Some Pakistani media outlets recently reported that an IMF team was already visiting the country to discuss the bailout program under the Extended Fund Facility.
However, the IMF statement clarifies its mission is yet to arrive in Islamabad for negotiations.

KARACHI: The Competition Commission of Pakistan (CCP) announced on Saturday it had served notices to 12 cosmetics companies for running “deceptive marketing campaigns” by engaging in “greenwashing,” falsely describing their products as organic and devoid of any chemicals.
The CCP is a regulatory agency with a fundamental mandate to ensure a level playing field for all market players and to protect consumers from anti-competitive practices, predatory behavior and price-fixing.
The CCP statement also highlighted that Section 10 of the Competition Act, 2010, prohibits misleading marketing practices and emphasizes “accuracy, integrity, reliability and truthfulness” in marketing communication to assist consumers in making informed purchase decisions.
“The Competition Commission of Pakistan has taken cognizance of deceptive marketing by the beauty products’ manufacturers and issued notices to 12 companies regarding their false and misleading claims,” the CCP said.
“CCP’s preliminary probe revealed that these Undertakings were prima facie engaged in ‘greenwashing’, advertising their products as ‘Natural, Organic, Sustainable, Pure, and Chemical Free’ without having any scientific evidence to support their claims,” it added. “Such unsubstantiated marketing claims not only mislead the consumers but also pose potential health risks.”
It added the notices issued by its officials could ultimately lead to responsible marketing practices prioritizing environmental integrity and consumer trust.
The statement also urged consumers to remain vigilant and report false advertising claims along with any health hazards caused as their consequence.