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Second round of technical talks between IMF, Pakistan conclude in Islamabad

ISLAMABAD: The second round of talks between the technical team of the International Monetary Fund (IMF) and Pakistan concluded in Islamabad on Thursday.

In the session, the power division officials apprised the visiting IMF delegation about the recent rise in electricity prices.

The delegation which arrived on October 7 will be in the country for two weeks to hold talks regarding a possible bailout package.

According to sources, data regarding the different sectors of the economy was shared with the IMF team today.

“The second phase of talks between Pakistan and IMF will commence from Monday and the discussion to focus on different policy matters,” sources added.

Talks between IMF and Pakistan will continue till November 20 with finance secretary, chairman Federal Bureau Revenue and governor State Bank of Pakistan in attendance during the meetings.

Pakistan has requested IMF for a $6-7 billion bailout package.

Finance Minister Asad Umar said, Pakistan will receive some $5-6 billion from IMF.

The stage to discuss bailout package conditions with the IMF is yet to come since the delegation is in Islamabad for two weeks, he said.

“If IMF puts forth conditions that are not in the national interest, we will not accept them. All arrangements made to date have been so that Pakistan does not have to bend over should the IMF set such conditions,” Umar explained.

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