ISLAMABAD – Pakistan has reportedly refused to accept two key demands ofIMF over bailout package.

Pakistan has not agreed to the IMF’s demand about the revenue gatheringtargets, sources said.

Pakistan put forth its stance saying that the current year the taxcollection target will not be raised from Rs4400 billion. Sources said thatthe IMF had asked Pakistan to raise the target to Rs4700 billion.

Pakistan has also turned down the demand to raise the interest rate up to13 per cent on bank loans, saying that it could be detrimental to itseconomy.

Meanwhile, Pakistan has said it will continue its policy to controlcurrency value, to which the IMF agreed, said the sources.

Pakistan is awaiting a response from the IMF, as a delegation will likelyvisit the country in the first week of January. In case the delegationcannot pay a visit to Pakistan, negotiation will take place through a videoconference.