Islamabad (November 02, 2018): A delegation of International Monetary Fund (IMF) will visit Pakstan on November 7 to hold discussion on the bailout package.
According to initial details, IMF has also prepared certain terms that include control on privatization, tax reforms, circular debts and inflations for Pakistan in order to avail the package.
Earlier on October 11, Pakistan sent a formal request to IMF for bailout package after Finance Minister Asad Umar met IMF chief Christine Lagarde.
Asad Umer claimed that the government’s decision to approach the IMF was inevitable due to wrong economic policies of the past governments. Asad Umer stated, “At present, the total shortfall of the country’s foreign exchange reserves is around $12 billion, which cannot be bridged through the IMF loan. The government will also utilize other sources for the purpose”.
He said that in previous meetings, the two sides expressed the desire that it might be the last bailout package for Pakistan.