IMF satisfied with Pakistan over recent measures

Islamabad: The International Monetary Fund (IMF) is satisfied the government’s recent measures, the  sources familiar with the development said on Monday.

The move paved the way for the new loan programme.

The sources said that the government is continuing to meet other conditions set by the IMF. Efforts are underway to increase the basic electricity tariff in accordance with NEPRA’s decision, with new rates expected to be implemented in July.

Pakistan aims to secure a new IMF loan program in July, as the budget for 2024-25, prepared under IMF conditions, has been approved, fulfilling a major requirement set by the international lender.

Timely implementation of monthly and quarterly electricity adjustments is also in progress.

Finance ministry officials anticipated that an agreement for the new loan program will be finalized in July. The new program is expected to range between $6 billion and $8 billion, although the exact amount has yet to be determined.

The new loan program with the IMF is projected to span three years.

On July 28, the National Assembly approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion.