Breakthrough in Pak-IMF talks likely in January

ISLAMABAD: Pakistan government hopes to revive the deal with the International Monetary Fund (IMF) for the disbursement of a loan tranche under the $7 billion bailout package in the month of January, ARY News reported, citing sources. 

Sources said the federal government has become active for a breakthrough with the IMF as the ongoing exchange of information with the fund is termed ‘satisfactory’.

The government hopes to get financial help from friendly countries. Islamabad is hoping to get a fresh package of $6 billion from China and Saudi Arabia, the sources said.

The government is planning to achieve the tax collection target without imposing fresh taxes on the masses. Sources further said that the government is planning to increase the levy on diesel by Rs50 per liter, which is currently being charged Rs30.

Levy on the petrol is already Rs50 per litre on the demand of the International Monetary Fund.

Read more: IMF ‘dissatisfied’ with Ishaq Dar, seeks increase in petroleum levy

Earlier, ‘dissatisfied’ with Finance Minister Ishaq Dar, the International Monetary Fund (IMF) asked Pakistan to jack up the levy on diesel, ARY News reported, citing sources.

The IMF expressed ‘dissatisfaction’ over the policies of Ishaq Dar and presented more demands in front of Pakistan for the continuation of the current $7bn Extended Fund Facility (EFF) programme.