ISLAMABAD – Pakistan and the IMF have reportedly reached on an agreementfor financing of $6-8 billion bailout package.
The government has finally decided to take up to $6 billion loan from theInternational Monetary Fund (IMF) from the next fiscal year.
Sources told *Pakistan Today* that the government’s economic team and theinternational lending organisation has reached an agreement in their recentcommunication. “IMF has agreed to give the loan on Pakistan’s conditions,”they revealed.
According to details, Pakistan has assured the lending organisation thatthe government would make reforms in the Federal Board of Revenue besidesincreasing the revenue at 1.5pc of the GDP from next fiscal year.
Earlier, it was reported that the finance minister had refused to revisethe revenue target of FBR despite the shortfall of Rs188 billion in thefirst seven months.
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Sources claimed that the economic team also assured the lendingorganisation that the government would increase the spending on its socialsafety network.
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