Pakistan IMF talks in concluding stage, deal likely to finalize soon

ISLAMABAD: The talks between Pakistan and the International Monetary Fund (IMF) have entered in its concluding phase and will likely to finalize soon, ARY News reported on Thursday.

A statement with regard to an agreement between Pakistan and IMF is expected soon, sources said.

According to reports both sides holding the final round of talks today and a deal to be finalized soon, sources at the ministry of finance said.

The remaining issues of the fiscal deficit and primary balance will be addressed in the concluding round of talks, sources said.

The officials of Pakistan and the IMF exchanging drafts of the proposed deal which will become the base for a three-year package.

The bailout package side is expected upto $6.5 billion, sources added.

The announcement of Fiscal Year 2019-20 budget is likely to be deferred to the second week of June, sources said.

The sides discussed key points regarding the hike in electricity and gas tariffs, withdrawal of subsidies and tax exemptions along with the issues of the value of rupee and interest rates, according to sources.

Minister of State for Revenue Hammad Azhar also while giving answers in Senate’s Question Hour said the talks with IMF are at the final stage and its details will soon be shared with the parliament.