IMF mission to negotiate fresh loan arrangement with PM Shehbaz Sharif

It is anticipated that the prime minister would talk about the potential for getting more money from the lender, according to sources.

The lender will question PM Shehbaz Sharif on the new loan program’s aims during the meeting.

It has been underlined by sources that these talks will also address how the budget for the next fiscal year would maintain strict economic measures.

Pakistan and the International Monetary Fund (IMF) have started negotiations in Islamabad today on a new loan.

With a view to alleviating its financial difficulties, Pakistan is requesting a three- to four-year bailout plan from the international lender worth $6 to $8 billion.

There are negotiations between the Pakistani delegation headed by Finance Minister Muhammad Aurangzeb and a mission team led by Nathan Porter, the IMF’s Mission Chief to Pakistan.

Aware of the situation, sources suggested Islamabad may have to make additional difficult choices, like as raising gas and electricity prices.

According to Mr. Aurganzeb, who briefed the IMF delegation, Islamabad is prepared to sign a new loan program in order to continue improving the country’s economy, which has improved following the IMF loan package.

It is anticipated that the IMF’s current visit to Pakistan would run at least for two weeks.