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The International Monetary Fund's mission is in Pakistan and is in talks with officials to find an unspecified amount to help solve the balance of payments problem.
As talks enter the final phase, the IMF has set more stringent conditions that Pakistan must implement in exchange for a bailout package, vital to economic recovery.
Some of the main conditions include the imposition of additional Rs 150 billion, a further reduction in the value of the rupee and a more restrictive monetary policy. He also asked Pakistan for details of China's financial support for any Pakistan rescue package.
Under the leadership of its mission chief Harald Finger, the IMF delegation holds meetings with government officials to hear their views on the reforms.
According to Dawn, nothing indicates that the two parties are close to an agreement.
Finance Minister Asad Umar said on Monday that negotiations were moving forward positively but that there were still differences, the report said.
"There are still gaps in the position of the IMF and in the position we have," Umar said after a series of meetings with an IMF team.
Umar said the IMF visit would end on Tuesday and that there was no financial urgency to deal with tomorrow the day after tomorrow.
He added that $ 1 billion of the $ 3 billion committed by Saudi Arabia had been transferred Monday to the State Bank of Pakistan and that the remaining $ 2 billion would follow in the next few days.
Pakistan looks forward to a bailout of about $ 6 billion to avoid balance-of-payments crisis
Informed sources said the positions of both parties on the need for an increase in the electricity tariff, an upward revision of the revenue target and additional tax measures on Chinese assistance and its impact, both incoming and outgoing.
According to sources, the IMF also asked the provincial governments to fund the Benazir Income Support Program (BISP), rather than the federal government, and asked for cash surpluses committed to minimize the consolidated budget deficit.
Regarding Chinese funding, the minister said that Chinese aid was completely transparent and that the external debt should be shared with the IMF under the program, the report said.
The sources said the IMF mission wanted a clear roadmap for eliminating the circular debt of the energy sector, which was currently Rs.1.2, and welcomed the administrative measures taken to recover some arrears, while insisting on increasing electricity rates for full cost recovery of electricity supply.
The sources said the IMF team was not happy with the electricity sector reform plan and wanted the government to relinquish its powers over electricity pricing. and let them be independently treated by the electricity regulator.
Pakistan's current account deficit widened 43% to US $ 18 billion during the fiscal year ending in June, while the budget deficit reached 6.6% of gross domestic product .
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