ISLAMABAD – Pakistan has reportedly rejected the IMF Bailout packageassociated conditions, private media has reported.
Finance Minister Asad Umar on Tuesday held a meeting with the visitingInternational Monetary Fund (IMF) mission led by Harald Finger in Islamabad.
While expressing concerns over the conditions put forward by IMF for thebailout package, Asad Umar clarified that Pakistan is not ready to acceptthem.
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.
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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.
