ISLAMABAD – The talks between Pakistan and the International Monetary Fund(IMF) have entered final stage and both sides will conclude ongoing talksfor the stalled bailout package today.
The country of over 220 million is facing the worst economic crisis and wasin talks with the international lender to secure another bailout, by makingstringent reforms demanded by its mission.
IMF officials were in the South Asian nation for over a week time to sortout the differences over fiscal policy as the government made desperateattempts to unlock the much-needed funds as forex reserves plunged tocritical levels.
Earlier, Pakistan’s Finance Chief Ishaq Dar led the delegation, and NathanPorter represented the IMF delegation, with both sides mulling ways onreforms, ending circular debt, and proposed tax measures.
On the last day of negotiations, experts claimed that the draft of mutualeconomic and financial policy is likely to be finalised.
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It was reported that the ongoing talks will end in the next 48 hours as theSharif-led government is set to unveil a new ‘mini-budget’ to impose newtaxes worth nearly Rs200 billion to ensure the continuation of the IMFprogram.
Lately, State Minister for Finance and Revenue Aisha Ghaus Pasha saidPakistan would soon reach an understanding with the IMF to secure the nexttranche.
Pasha also hoped IMF to share the initial draft before the end of talks,saying the government is close to the finalization.
