ISLAMABAD – Pakistan has agreed to the International Monetary Fund’s twodemands while rejected two other.
As per media report, Pakistan accepted IMF condition to raise theelectricity rates, sources informed on Tuesday.
According to sources, out of the four major points in the bailout package,Pakistan and the IMF have come to agreement on two of them.
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.
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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.
