Crisis-hit Pakistan to share budget details with IMF to salvage bailout funds

ISLAMABAD – Pakistan and International Monetary Fund (IMF) failed to reach a staff-level agreement while the government continued to make desperate attempts but to no avail.

In a recent development, Islamabad is sharing details of the upcoming budget details with the global lender to unlock much-needed funding, this was confirmed by Finance Minister Ishaq Dar.

In his recent interview with a local media outlet, the country’s finance chief said the government will share its upcoming budget details. PML-N stalwart said he would like global lender to clear ninth review before the budget 2023-2024, which is due to be presented next month.

He said IMF asked for some more things another time, and we are following steps to complete all prerequisites.

Earlier, US based lender asked Sharif led the government to complete a series of actions including end of subsidies on petrol and electricity. The government increased power tariffs and fuel rates other than jacking up its key policy rate to a record high.

Pakistan even got assurances from friendly nations, UAE and Saudi Arabia, one of the key demands laid forth by the fund to release the next tranche of loan to the crisis-hit country.