*ISLAMABAD: The International Monetary Fund (IMF) has issued a declarationregarding agreement of the bailout package with Pakistan.*
Under the agreement, Pakistan will receive $6 billion for a period of 39months.
As per the declaration, the bailout package will be implemented after theapproval of the IMF’s Executive Board.
Pakistan will have to bring down the upcoming budget deficit by 0.6 percent, according to the declaration issued by the fund and added that the‘market-determined exchange rate’ to help the financial sector.
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The government has ensured to keep sovereign position of the State Bank ofPakistan and has also agreed to drop down the loans by introducing reformsin the tax system of the country.
“An ambitious structural reform agenda will supplement economic policies torekindle economic growth and improve living standards”.
