Pakistan all set to ditch IMF in October
Country expected to attain economic relief after the end of the IMF programme
ISLAMABAD (Dunya News) – According to the Ministry of Finance, the government is all set to work on plans to rid the International Monetary Fund (IMF) and its harsh conditions, reported Dunya News.
IMF’s programme involving tough impositions will end this September, according to Finance Ministry sources. Therefore, the government is working on plans to ditch the IMF in October.
Pakistan will obtain two installments of loans from the IMF in September worth $1 billion. The foreign exchange reserves of the country are over $20 billion whereas sukuk bonds worth $50 crore will also be issued prior to June this year thus there shall be no need for a new loan programme.
The country is expected to attain economic relief at the end of the IMF programme. Moreover, the privatisation issue of various institutions, including that of electricity distribution companies, can also fade away or be delayed.
IMF’s condition to reduce subsidy over electricity will also diminish.
