Policy-level agreement has been reached with the International Monetary Fund (IMF) but details of the package estimated at between $ 6 to 8 billion, would be finalized when the mission visits Pakistan during the last week of April. This was stated by Asad Umar during his talk with media at the conclusion of the National Assembly Standing Committee meeting on Finance.
Umar acknowledged that there had been no discussion on China Pakistan Economic Corridor with the Fund since October 2018 when a detailed presentation was made on borrowing from China. "It is not correct that the IMF is asking for borrowing details from China and the government of Pakistan is reluctant to share it," he added.
Asad Umar stated that Pakistan and IMF have exchanged documents on exchange rate, fiscal deficit, energy pricing, public finance and public sector enterprises. Umar did not mention any specific prior or during IMF programme conditions but added that reducing the financial burden of state owned entities on the exchequer, containing the fiscal deficit and improving public finance would be discussed during the Fund's scheduled mission.
Umar stated that there would be no price increase as a result of the bailout package adding that at present, the government is not considering any new proposal to increase electricity tariffs. Asked if he would be allocated another ministry he said, Hazaaron khawaish aisi kay har khawaish pay dum niklay. To a question, he said that the IMF has not objected the amnesty scheme.