The Ministry of Finance is in talks with the International Monetary Fund (IMF) regarding obtaining a new three-year loan under its Extended Fund Facility Program.
Sources told ProPakistani that there is a possibility of signing a big $8-10 billion program with the IMF once the current one concludes on March 31st, 2024.
According to sources, the Ministry of Finance is aiming to secure a new three-year loan program under the Extended Fund Facility from the IMF. Prior to finalizing this agreement, the Ministry of Finance intends to assure the IMF of fulfilling all conditions set forth under the new loan program.
IMF proposals for the federal budget 2024-25 will be submitted to the Ministry of Finance on a subsequent basis.
Under the terms of the proposed loan program, it is anticipated that electricity and gas prices will increase while subsidies will be further reduced. Sources said the terms of the new loan program are expected to be more stringent compared to the existing standby arrangement.
Only Nawaz sent IMF packing from our country in 2017 i guess