Return application prepared for new IMF loan program

Islamabad: The return application for the new loan program from the International Monetary Fund (IMF) has been prepared, reportedly.

According to media reports quoting Finance Ministry sources, Mohammad Aurangzeb will make two requests for new loan program during his meeting with IMF including Extended Fund Facility and Additional Fund for Climate Change.

It is reported that a briefing has been prepared for the IMF officials regarding the measures and allocated budget to deal with climate change. The governor of the State Bank of Pakistan (SBP) and the Secretary of the Ministry of Finance will inform the IMF officials about the economic indicators during the meeting.

Media reports citing Finance Ministry sources said that as a result of positive discussions with Managing Director (MD) IMF, the IMF mission will reach Pakistan next month for negotiations. The mission will work with the economic team to prepare the new loan program and budget for the next fiscal year.

Pakistan's economic team will also discuss to increase financing during the meeting with the World Bank officials, added reports.