The Ministry of Finance has admitted that Pakistan has accepted most of the International Monetary Fund’s (IMF) conditions.
Finance Ministry Spokesperson Muzzammil Aslam said Saturday that Pakistan will have to ensure the implementation of the privatization programme to secure the IMF loan programme.
In a statement, the spokesperson said that dialogue with the IMF team was underway, adding that a formal announcement on it will be issued as soon as the talks conclude.
He said Pakistan will have to comply with the IMF’s new conditions if it wanted the loan programme to be restored.
“IMF suggested that we review our economic targets and comply with conditions related to the power sector reforms,” he added.
The government will have to take measures to increase tax revenue, he said, adding that the IMF has rejected the ministry’s plan and imposed conditions of increasing the interest rate and fixing the market rate of the dollar.
The IMF board will make the final announcement regarding the loan program, added the spokesperson.