Saturday, December 2, 2023

International Monetary Fund demands more details on Pakistan’s budget

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Ahead of the beginning of virtual negotiations, the International Monetary Fund (IMF) requested additional information regarding the budget from Pakistan, as the country urgently needs to generate USD 10 billion in foreign loans, Geo News reported.

A government official said the remaining loan repayment requirements and external financing of managing the current account deficit to the tune of USD 8 to USD 10 billion cannot be raised of the stalled IMF programme.

Meanwhile, the government is all set to table its plan to erase the circular debt of the gas sector before the upcoming meeting of the federal cabinet by hiking gas tariffs and bringing changes in the existing slabs to fulfil the IMF condition.

Right now, the IMF is the only door for Pakistan to unlock its problem regarding the financial crisis. Earlier, Pakistan shared the contours of areas for accomplishing the pending 9th review under the USD 7 billion Extended Fund Facility

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