Pakistan and the IMF have initiated discussions to secure the second tranche of a $3 billion bailout package, beginning on a positive note. IMF mission chief Nathan Porter praised Pakistan s commitment to meeting first-quarter targets, setting the stage for future reforms within the nine-month program.
No number of IMF packages or foreign bailouts will suffice in keeping the Pakistani economy afloat without the country undergoing a multifaceted structural revamp.
Pakistan s federal cabinet has approved a significant increase in electricity tariffs, with some customers facing an increase of up to ₹7.5 per unit. The government has sent the matter to the National Electric Power Regulatory Authority (Nepra) for approval.
Pakistan needs additional IMF programmes and support from other multilateral lenders beyond the ongoing standby arrangement, according to a 120-page report released by the International Monetary Fund. The country has just been given a final nod to accept a $ 3 billion bailout programme to stabilise the economy. Critics have reportedly voiced displeasure that the incoming government will inherit loans taken out by its predecessor.