Islamabad: Pakistan has started preparations for talks with the International Monetary Fund (IMF) set to be held in the current month.
Before the arrival of the IMF review mission to Pakistan, the country’s work on practical measures are underway.
The Ministry of Finance sources said that the international lender wanted to cut pension funds.
To fulfill the demand of the IMF, the finance ministry has prepared a summary for changing the rules of pensions.
Under the summary, the pension will not be given on the basis of the last salary while the yearly increase in salaries will be limited to real pensions.
It is pertinent to mention here that in July this year, the Executive Board of the International Monetary Fund (IMF) approved a 9-month Stand-By Arrangement (SBA) for Pakistan for an amount of SDR2,250 million (about $3 billion, or 111 percent of quota) to support the authorities’ economic stabilization program.
