Pakistan gives assurances to IMF for fresh loan programme

ISLAMABAD: Pakistan has assured the International Monetary Fund (IMF) of the fresh loan programme, ARY News reported on Thursday, quoting an official document. 

According to the Memorandum of Economic and Financial Table, Pakistan has assured to increase Pakistan’s foreign reserves to $13.6 billion in FY2024-25 to avail of the new loan programme from the international lender.

Pakistan will seek a rollover of $6.34 billion loan in the next financial year,  while the foreign investment will be jacked up by %1.31 bn, the MEFPT stated.

The sources within the finance ministry stated that the Special Investment Facilitation Council (SIFC) will help to attract foreign investment during the current fiscal year.

Read more: Pakistan to get another IMF package after Standby Agreement

Earlier it emerged that Pakistan will get another loan package from the International Monetary Fund (IMF) after completion of the ongoing Standby Agreement.

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

The government will likely 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 would move forward the measures agreed by the caretaker government.