*ISLAMABAD – The draft for International Monetary Fund (IMF) bailoutpackage has been prepared as Pakistan accepted the major demands of IMF onSaturday.*
According to the sources of Finance Ministry, Pakistan has accepted majordemands of the IMF for bailout package in the draft agreement. However, Italso said that over strict terms and conditions posed by the IMF onPakistan for a bailout package, Prime Minister Imran Khan has expressedreservations.
The sources further said that the premier seeks soft terms and conditionsfrom the IMF regarding inflation, particularly relaxation in a larger taxrebates and exemptions. Moreover, PM Khan has directed concerned officialsto persuade the IMF for a reduced tax collection target.
Following to this, the PM has summoned an important meeting on Monday toexamine financial affairs, the tax amnesty scheme and the IMF deal. Severalmembers of the federal cabinet will also attend the meeting.
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It was reported that the government has accepted several demands of theIMF, including the increase in electricity and gas prices in the country.The Pakistani officials bowed down before the IMF and accepted thecondition for removing subsidy on agriculture, devaluation of rupees aswells as hiking the percentage rate of interest.
