ISLAMABAD: IMF Board may meet on Dec 7: A meeting of the International Monetary Fund’s (IMF) Executive Board is scheduled to take place on December 7 to grant approval for the staff-level agreement (SLA) with Pakistan. This approval will pave the way for the release of the next tranche of $700 million to Pakistan under the $3 billion standby arrangement.
Meanwhile, the caretaker federal government has decided to develop a blueprint outlining the economic policies for the upcoming government to follow. As part of this plan, discussions will be initiated with the IMF for a new loan program.
In anticipation of the IMF Executive Board meeting, preparations are underway to raise electricity and gas prices. Additionally, measures will be taken to bring digital markets, the property sector, and real estate sector under the tax net.
According to sources in the finance ministry, Pakistan intends to borrow $25 billion from friendly countries in the Gulf region and China, as well as commercial banks, to fulfill its external financing requirements for this fiscal year.
Furthermore, the caretaker government has assured the IMF that the next general elections will be held on schedule.
Moreover, it has been reported that China has given assurances of extending a loan rollover to Pakistan for an additional two years.
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