Miftah Ismail hopeful of extension in IMF bailout package, increase in funds

ISLAMABAD (92 News) - Finance Minister Miftah Ismail has expressed the hope that the IMF bailout package will be extended for a year as well as funds will be increased.

Talking to the media on Wednesday, he said that there is possibility of getting Rs2 billion instead of Rs1 billion and targets will be determined soon.

"Consensus has been developed with the IMF over the basic targets. There is possibility of extension in repayment of the loan," he added.

He said that consensus has been reached regarding the targets of taxes and deficits. "The targets of new taxes have been settled. The bailout package will be extended by one year. The agreement is at the last stage," he added.

The minister said that the IMF will formally make an announcement in this regard soon.