IMF imposed new conditions on Pakistan | Pro IQRA News

IMF imposed new conditions on Pakistan

 | Pro IQRA News

Pro IQRA News Updates.

The International Monetary Fund (IMF) has imposed new conditions on Pakistan to revive the program.
Web Desk: Pakistan faces an unusual situation to revive the IMF program. According to the sources, for the first time in the history of the IMF, it is being asked to implement the conditions before the staff agreement Historically, there is a condition for the implementation of the conditions before the executive meeting In program maintenance, Pakistan is facing a situation like 1998. Is.
Sources said a new draft Memorandum of Economic and Finance Policy (MEFP) is being given to Pakistan every day, making changes to the IMF’s already agreed clauses and making more demands.
Sources say that IMF is pressuring Pakistan for four more conditions for the staff level agreement, according to IMF’s terms, the electricity has to be Rs 3 82 per unit, surcharges are levied on a permanent basis instead of 4 months. Must do.
Sources have said the finance ministry is ready to impose the surcharge for four months, but the IMF is adamant about imposing the surcharge on a permanent basis.
According to the sources, the demand from the IMF to raise the interest rate before the staff agreement remains, but the state bank has called the meeting of the monetary policy committee on March 2 to raise the interest rate. Insist on setting the limit accordingly.
Sources say Pakistan is ready to fix the interest rate after inflation, while the IMF is willing to peg the exchange rate to the Afghan marginal rate.
Sources said that Pakistan could not get a clear commitment from any friendly country except China, $700 million has already been received by China, another $1 billion 30 million will be received from China in three installments soon. The Ministry of Finance is also dissatisfied with the role of the Ministry of Foreign Affairs in the revival of the IMF program.
According to the sources, there are also differences on the primary deficit and current account deficit data, Pakistan wants to set the deficit target according to 7-month data, but the IMF is adamant about setting the target on its own.