Summary Pakistan and the IMF have agreed to sign agreement regarding new debt arrangements.
ISLAMABAD (Dunya News) - Pakistan and International Monetary Fund (IMF) concluded negotiations on fresh bailout package and Islamabad will formally request for loan in the evening today (Thursday).
Spokesman for the finance minister said Pakistan is borrowing on its own conditions, adding they remained firm on their stance in the dialogue with the IMF for not imposing new taxes.
Pakistan, however, accepted to raise power tariff in the talks.
According to Ministry of Finance‚ negotiations between the two sides continued for two weeks‚ which remained successful. Under the proposed agreement‚ IMF will issue over five billion dollars soft term loan to Pakistan.
The agreement in this regard will be signed by Finance Minister Ishaq Dar and IMF officials later today (Thursday‚ June 4).
Pakistan and IMF officials will address a joint press conference today.
