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Pakistan, IMF meeting expected tonight

June 21, 2022 (MLN): The discussion between Pakistan and the International Monetary Fund (IMF) for the resumption of the loan program is expected to start tonight, official sources from Finance Ministry told.

After the removal of subsidies on petroleum products, the government is expecting a positive breakthrough from IMF.

Yesterday, Finance Minister Miftah Ismail while speaking to the media in Islamabad, said “I am quite hopeful that the IMF program will be restored within one or two days”

On the upside, the United States has agreed to help Pakistan negotiate a deal with IMF amidst unprecedented economic instability in the country.

Earlier, media reports had claimed that Pakistan was seeking US support for renewing its EFF program with the IMF.

The coalition government is making all-out efforts to revive the program and has taken many unpopular steps for fiscal consolidation including taxation of personal income tax, abolishment of subsidies, petroleum levy, and increase in electricity prices.

However, the fund is still asking for additional measures that will be required to bring Pakistan’s budget for FY23 in line with the key objectives of the IMF.

Copyright Mettis Link News

Posted on: 2022-06-21T16:57:41+05:00

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