ISLAMABAD – Another round of talks between Pakistan and the InternationalMonetary Fund (IMF) failed.
Both the sides failed to reach consensus for a fresh bailout package, a localmedia outlet reportedlink.
According to the sources, during the talks held in Islamabad, the officialsnegotiating from the IMF side demanded further devaluation of rupee againstthe greenback, an increase in tax collection as well as interest rate.
On these demands, the Pakistani officials stated that an increase in theinterest rate would simultaneously increase the expenses on the governmentside, while achievement of tax collection of Rs4,435 billion would also bedifficult, the sources said.
Sources within the finance ministry said the rupee had already beendevalued, while demands of the IMF were “not acceptable to us”.
However, Pakistan and the IMF agreed to continue talks in the future, whiledates in this regard would be decided later with the mutual consent of boththe parties.
Earlier on November 20, 2018, Pakistan had extended talks with the IMFafter the two sides failed to agree on the terms of a bailout package.
Finance ministry spokesman Noor Ahmed had said there were still some issuesto be ironed out.