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IMF sets four new conditions to issue next tranche

ISLAMABAD: International Monetary Fund (IMF) has set four new conditions to issue the next tranche of the bailout to Pakistan, ARY News reported on Tuesday.

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The IMF has set four new conditions in its third review report, while altering the conditions already imposed.

The government’s failure in meeting the target of the fiscal deficit and other conditions the new conditionalities are being slapped, the fund said.

The fund has slapped four new conditions on Pakistan after the government showed reluctance in reforming some of the critical areas of the economy. These conditions include steps to give real operational independence to the State Bank of Pakistan (SBP).

Another new condition is filling vacancies in the NEPRA board by the end of current month and the public debt management. The fourth condition is offering minority shares in UBL and PPL to domestic and international investors, which has been met by the government.

In the review report IMF has expressed satisfaction over the process of economic and financial reforms in Pakistan. It also observed that the government has started removing the SROs and called it a good step for the health of the economy.

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