Talks between IMF, Pakistan begins on Wednesday

IMF puts five tough terms before Shehbaz Sharif govt


ISLAMABAD: The International Monetary Fund (IMF) has set five main conditions for reviving a $6 billion bailout, including the removal of fuel subsidies and the withdrawal of a tax amnesty program.

The IMF cut fuel subsidies, abolished tax amnesty scheme, raised electricity prices, introduced additional tax measures and reduced development plans to Rs 6,000 crore through the Public Sector Development Programme (PSDP) until the end of the current financial year.

The government also wants China to roll over $2.3 billion as soon as possible, and Islamabad also wants to get $2 billion in security deposit rollovers in May 2022 and July 2022.

Meanwhile, Finance Minister Mifta Ismail said on Thursday that he was visiting Washington for talks with the International Monetary Fund (IMF).

In a tweet, the finance minister said he would work to get back on track the Pakistan Justice Movement (PTI) and Imran Khan’s IMF program that derailed and jeopardized the country’s economy.

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