August 29, 2022 (MLN): Pakistan will likely hold talks with the International Monetary Fund (IMF) for additional loans following the flash floods, Federal Minister for Finance and Revenue Mr Miftah Ismail said during the press conference on Monday.
He said that there was no immediate assessment of how badly the various sectors of the economy had been affected and the damage may exceed $10 billion.
Following the surging prices of fruits and vegetables amid floods, he also highlighted that these prices will keep on increasing and the government might consider importing from India to address supply chain disruption.
Talking about a Letter by Khyber Pakhtunkhwa's Finance Minister Taimur Khan Jhagra, Miftah Ismail clarified, “The letter will not affect the IMF program and we are hopeful for the positive outcome from the IMF’s meeting.”
The letter noted that the KPK government decided to withdraw from its commitment to providing a provincial surplus for FY23 which was one of the IMF conditions.
