IMF, Pakistan inch closer to revival of loan package

The International Monetary Fund (IMF) and Pakistan moved closer to the revival of their loan package on Saturday as Islamabad has taken several steps to reduce its expenditure, increase energy prices and improve tax collection, as demanded by the IMF.

The moves bring Pakistan closer to meeting an IMF demand that the country achieve a primary budget surplus of 153 billion rupees — 0.2 percent of the national output for the new financial year — to revive the bailout package.

After the last round of talks, IMF Resident Repres­entative in Islamabad Esther Perez Ruiz said, “Discussions between the IMF staff and the authorities on policies to strengthen macroeconomic stability in the coming year continue, and important progress has been made over the FY23 budget”.

Since then, Pakistan has taken other key steps to IMF demands.

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