International Monetary Fund or IMF loan to Pakistan is going too finalized, as revealed by sources.
IMF loan to Pakistan worth between $ 6 to 7 billion is near to the finalization. However, the federal government and IMF will conduct the last round of talks on Friday (today).
Under the proposed bailout agreement, Pakistan would have no choice but to concede to the IMF’s demands to hike power tariffs and taxes and withdraw tax concessions and exemptions – which are among the conditions that the country has accepted to secure the loan.
The IMF and the Ministry of Finance would release a joint press statement if the agreement is finalised. If no agreement is reached, both the sides would issue separate press releases, the sources added.
In April, former Finance Minister Asad Umar revealed that IMF loan to Pakistan is now finalized and will be around $6 to 8 billion. He further added that the talks with the World Bank and IMF were positive. However, Pakistan will receive the funds from the Asian Development Bank and World Bank.