Pakistan to get another IMF package after Standby Agreement

ISLAMABAD: Pakistan will get another loan package of the International Monetary Fund (IMF) after completion of the ongoing Standby Agreement, ARY News reported on Tuesday.

“Caretaker government has initiated consultations for the next IMF program,” sources said.

The government will likely to begin talks with the IMF for the next loan program in current month, according to sources.

The finance ministry officials said that the elected government will move forward the measures agreed by the caretaker government.

The ministry officials said that the new elected government would have to sign the IMF program as it will hold the reins of governance.

After February elections, the new government will implement the new IMF package, sources said.

Finance Ministry officials insist that another program of the monetary fund has been inevitable for complete restoration of the country’s economy.

The elected government will begin preparation of the budget for fiscal year 2024-25, officials shared. The budget for FY 2024-25, will be prepared under the new IMF program, officials said.

The new government would have four months period for preparation of the next budget after coming into power.

“Another IMF program in continuation of present measures will strengthen the economy,” officials said.

“Under a long-term policy for the sake of restoration of the economy more steps will continue to be taken,” officials added.