The IMF set five conditions for the resumption of the 6 billion$ bailout package for Pakistan

 The IMF set five conditions for the resumption of the 6 billion$ bailout package for Pakistan

Borrowing will require the abolition of the tax amnesty scheme, increase in electricity tariffs, introduction of new taxes and ensuring financial savings while withdrawing fuel subsidy.

The International Monetary Fund (IMF) has set five conditions for the resumption of the 6 billion$ bailout package for Pakistan, according to media reports. 

The IMF, in its five conditions, has said that borrowing must end the tax amnesty scheme, increase electricity tariffs, introduce new taxes and ensure financial savings, while withdrawing fuel subsidies.

The new finance minister, Muftah Ismail, has also requested a face-to-face meeting with the IMF's managing director, Kristalina Georgieva, to revive the program. It may be recalled that talks between Pakistan and IMF have started. Talks between Pakistan and IMF will continue till April 24.

In case of successful negotiations with IMF, 1 billion$ will be released to Pakistan.

The talks will also consider proposals for the next budget, sources said, adding that the IMF will be required to set a larger tax target, and it is likely that the IMF will demand a 7,000 billion tax target. 

While Federal Minister for Finance and Revenue Muftah Ismail has said that he is going to Washington to bring back the IMF program, the PTI government has left a revolving loan of Rs 1500 billion in the gas sector.

In a tweet released on the social networking site Twitter on Thursday, the finance minister said that he was leaving for Washington to bring back the IMF's program Kotrik, a program which was derailed by Kopi TI and Imran Khan and put the country's economy in danger. 

The Finance Minister said that after being in ECL for three years, he will also travel to London where he will meet his leaders Nawaz Sharif. In the gas sector, a revolving loan of Rs 1,500 billion has been acknowledged.