ISLAMABAD – Pakistan is facing toughest conditions from InternationalMonetary Fund (IMF) for bailout package.

IMF has demanded free mechanism for rupee devaluation which would leadRupee to a new low of Rs 150 against US dollar.

Sources said that the IMF demanded the government to increase General SalesTax (GST) to 18 percent and also asked the government to withdraw subsidyin phases.

The Mission also demanded the PTI government to increase interest rate morethan 1 percent.

It asked the government to make State Bank, Oil and Gas RegulatoryAuthority (OGRA) and National Electric Power Regulatory Authority (NEPRA)independent.

The IMF further demanded the government to crackdown against tax evadersand also asked to slash line losses of the electricity.