Pakistan - IMF near inking $10 billion bailout deal

Pakistan - IMF near inking $10 billion bailout deal

ISLAMABAD - Pakistan and IMF are near inking $10 billion bailout deal, sources have revealed.

Finance Minister Asad Umar said on Wednesday that Pakistan is close to reaching an agreement with the International Monetary Fund (IMF).

Asad Umar briefed National Assembly Standing Committee on Finance about the country’s ecnomical situation.

He told that IMF plans to increase the dollar rate but government won’t take such measures. The minister maintained that that talks with IMF are in progress while the differences have reduced.

He apprised the committee that IMF demands to reduce the losses of electricty and gas. Asad Umar explained that there is no plan to increase the rate of dollar as the economy is stable.

He told Committee that IMF has given them some targets following which banned organizations have been risked from medium to higher level on their recommendation.