Pakistan is likely to sign a new three-year loan program with the IMF to replace the current one. The program will include sharing budget proposals for FY-2024-25 and committing to raising electricity and gas prices while reducing subsidies. The new conditions are expected to be tougher than the current program.
ISLAMABAD: Pakistan is likely to sign a fresh loan programme with the International Monetary Fund (IMF), after the completion of the current one, ARY News reported on Wednesday, citing sources within the finance ministry.
As per details, Islamabad is expected to sign the Extended Fund Facility programme for three years and would share budget proposals for FY-2024-25 with the International Monetary Fund, the sources said.
They further said the IMF will be given assurances of further jacking up electricity and gas prices and shunning subsidies burden on the economy, before signing the new loan programme.
The conditions for the new IMF loan programme would be ‘tougher’ as compared to the current SBA programme, finance ministry sources said.
Earlier it emerged that Pakistan will get another loan package from the International Monetary Fund (IMF) after completion of the ongoing Standby Agreement.
“Caretaker government has initiated consultations for the next IMF program,” sources said.
The government will likely begin talks with the IMF for the next loan program in the current month, according to sources.
The finance ministry officials said that the elected government would move forward the measures agreed by the caretaker government.
The economic landscape of Pakistan may soon undergo a significant change as the country is in the final stages of negotiations for a new loan programme with the International Monetary Fund (IMF). This potential agreement holds the promise of much-needed financial support and policy guidance for Pakistan’s economy. As the negotiations progress, both domestic and international stakeholders eagerly anticipate the potential impact of the prospective IMF loan programme on Pakistan’s economic outlook and reform agenda. The details of the loan terms, conditions, and potential implications for the citizens and businesses of Pakistan are among the focal points of interest as the country stands on the brink of a pivotal development in its economic journey.
Source: ARY NEWS
Pakistan is expected to sign a fresh three-year loan programme with the IMF, following the completion of the current one. The country will share budget proposals for FY-2024-25 and assure the IMF of increasing electricity and gas prices while reducing subsidies. The new loan programme’s conditions are anticipated to be tougher than the current SBA programme. The caretaker government has initiated consultations for the next IMF program, with the elected government likely to continue the measures agreed upon.
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