Sunday, August 7, 2022

PM Imran Khan summons meeting to discuss IMF deal

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ISLAMABAD: Prime Minister Imran Khan has called on a high-level meeting to discuss the $6 billion loan agreement with the International Monetary Fund (IMF), ARY News reported on Monday.

As per details, the meeting will be briefed by the Prime Minister’s Adviser on Finance Abdul Hafeez Sheikh about the bailout package agreement, which was finalised with the fund, after long discussion.

The minister and the members of the National Assembly have been asked to ensure their presence in the meeting.

Yesterday, Mr Sheikh had revealed that “We will be getting $6 billion from the IMF in 3 years, we see great advantages in reaching out to the global financial body”.

Meanwhile, the IMF has issued a declaration regarding agreement of the bailout package with Pakistan.

Under the agreement, Pakistan will receive $6 billion for a period of 39 months.

As per the declaration, the bailout package would be implemented after the approval of the IMF’s Executive Board.

Read more: Pakistan, IMF reach agreement on bailout terms and conditions: Sheikh

Pakistan will have to bring down the upcoming budget deficit by 0.6 per cent, according to the declaration issued by the fund and added that the ‘market-determined exchange rate’ to help the financial sector.

The government has ensured to keep sovereign position of the State Bank of Pakistan and has also agreed to drop down the loans by introducing reforms in the tax system of the country.

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