ISLAMABAD – A breakthrough is expected in latest round of talks between Pakistan and the International Monetary Fund (IMF) as the South Asian country is scrambling to revive the loan programme stalled since November last year.
Reports said Pakistan is likely to modify the budgetary framework for 2023-24 prior to its approval from the parliament as the condition has been laid forth by the global lender to reach the staff-level agreement on ninth review of the $6.5 billion bailout package.
Both sides are holding talks to reach a comprehensive consensus on the budgetary framework as the IMF has made it clear that the agreement could not be reached unless changes in the budget.
If Pakistan and Washington-based lender reached a consensus, it could lead to the revival of the loan progamme.
“The Pakistani side shared the revised budgetary estimates for next fiscal year with the IMF but so far a broader agreement is yet to be achieved,” Geo News quoted a top official of the finance ministry as saying.
The final budget speech of the finance minister was also delayed for this reason. Earlier it was expected to be held on Friday and now he may speak on Saturday (today) or on Monday.
