Pakistan aims to obtain a new loan program from the International Monetary Fund (IMF) in July.

Pakistan anticipates obtaining a fresh loan program from the International Monetary Fund (IMF) in July. This is because the budget for the fiscal year 2024-2025, which adheres to the terms set by the IMF, has been approved. This approval fulfills one of the significant prerequisites established by the international lender.

The administration is currently fulfilling other requirements established by the IMF, according to reliable sources. The basic electricity tariff is being raised in response to NEPRA’s ruling, and the new rates are anticipated to be put into effect in July.

The prompt execution of monthly and quarterly electrical changes is also being undertaken.

The finance ministry officials expect that a consensus for the new loan program would be concluded in July. The anticipated budget for the new initiative is projected to fall within the range of $6 billion to $8 billion, although the precise figure has not yet been determined.

The newly established loan arrangement with the International Monetary Fund (IMF) is anticipated to have a duration of three years.

The National Assembly (NA) passed the Federal Budget for the fiscal year 2024-25 on July 28. The budget has a total spending of Rs18,870 billion.