Islamabad: Pakistan and the International Monetary Fund (IMF) held an important meeting here on Wednesday to discuss the proposed bailout package for the cash-strapped country, among other matters.
The visiting IMF delegation, which arrived in the federal capital on Monday, is expected to conclude the technical details of the proposed loan by May 6. The bailout package is likely to range between $7-$8 billion, Geo News reported.
The Pakistani delegation is led by the Adviser to Prime Minister on Finance, Dr Abdul Hafeez Shaikh, and includes three additional secretaries and a senior joint secretary from the Finance Ministry.
Wednesday’s round of talks is expected to focus on briefing the IMF team on the tax amnesty scheme by the Federal Board of Revenue, privatisation programme, power and gas tariffs and the government’s policies.
Prime Minister Imran Khan had met IMF Director Christine Lagarde last Friday on the sidelines of the second Belt and Road Forum in China. During the meeting, the two sides had agreed on the importance of the IMF programme for the country and reviewed the relationship between Pakistan and the global lender.
Khan had identified areas of reforms and initiatives being undertaken by his government to stabilize the economy, control inflation and achieve fiscal balance.
The two parties had also agreed on the need for a social safety net for vulnerable groups of the society.