Pakistan to ‘seek’ fresh IMF loan program
Pakistan's newly-elected PML-N-led government has decided to seek a fresh loan program from the International Monetary Fund (IMF), with the Ministry of Finance initiating action on the premier's directives. The country aims to secure $6 to 8 billion, anticipating stricter IMF conditions. This move reflects the challenging task of managing increasing debts and repayment of existing loans, with the need to bolster revenue generation and balance payments. Tough decisions on electricity and gas price hikes are expected, while negotiations under the existing short-term IMF loan program are pending.
