ISLAMABAD (92 News) – An important round of talks will be held between Pakistan and International Monetary Fund (IMF) on Wednesday (today) in Islamabad.
According to the reports, during the meeting, the proposed bailout package and the Pakistan’s economic situation will be reviewed, among other matters.
The Pakistani delegation is led by Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh and includes three additional secretaries and a senior joint secretary from the finance ministry.
Secretaries from the Power Division, Petroleum Division and the chairmen of the FBR and Securities and Exchange Commission of Pakistan (SECP) are also participating in the talks.
The visiting IMF delegation, which arrived in Islamabad on Monday, is expected to conclude the technical details of the proposed loan by May 6. The proposed bailout package is expected to range between $7-8 billion.
Today’s round of talks will focus on briefing the IMF team on the tax amnesty scheme by the Federal Board of Revenue (FBR), privatisation programme, power and gas tariffs, and the government’s policies.
Pakistan, IMF reach agreement on bailout package: sources
Pakistan and the International Monetary Fund
(IMF) have reached an agreement on the bailout package, revealed sources.
As per the agreement, the bailout package will be for three years and Pakistan will get US$6 billion under the agreement.
The bailout package will be signed this year. Finance Minister Asad Umar has returned from the US after holding meetings with high-ranking officials of the IMF, World Bank and US Treasury. He is likely to hold a meeting with Prime Minister Imran Khan.
After his return, Finance Minister Asad Umar said that the international organizations have appreciated Pakistan’s economic reforms. “A medium-term economic framework has been formed which has been shared with the prime minister and economic advisory,” he said.
Pakistan has already shared the draft of assets amnesty scheme with the IMF and Financial Action Task Force (FATF) and they have no objection over it. The IMF mission is expected to visit Pakistan by the end of the current month to pave way for the agreement.
Pakistan has decided principle to start IMF mission: Asad Umar
On April 12, Minister for Finance Asad Umar said that Pakistan had decided in principle to start IMF mission and the decision has been taken in the best interest of national economy.
Speaking to the journalists in US, the minister said that the programme with the International Monetary Fund (IMF) would soon be completed for Pakistan.