Pakistan on track to secure new loan from IMF: Finance Minister

Washington: Finance Minister Muhammad Aurangzeb said on Monday that Pakistan is on track to secure a new loan from IMF.

In an interview with English Language newspaper The National, he said the IMF has been very receptive in terms of agreeing to consider a larger and longer programme.

The Finance Minister said Pakistan would need at least three years of support to carry out a reform agenda across several sectors including taxation and energy.

Muhammad Aurangzeb said macroeconomic factors are shifting in Pakistan's favour as it works to boost its lagging economy.

The Finance Minister said Pakistan's currency has stabilized and the inflation is on track to drop to single-digit levels by the end of next year.