𝐏𝐚𝐤𝐢𝐬𝐭𝐚𝐧 𝐋𝐢𝐤𝐞𝐥𝐲 𝐭𝐨 𝐆𝐞𝐭 $𝟔 𝐁𝐢𝐥𝐥𝐢𝐨𝐧 𝐁𝐚𝐢𝐥𝐨𝐮𝐭 𝐅𝐫𝐨𝐦 𝐈𝐌𝐅 𝐓𝐡𝐢𝐬 𝐌𝐨𝐧𝐭𝐡

 

Pakistan is poised to finalize a staff-level agreement with the International Monetary Fund for a bailout exceeding $6 billion this month, having met all of the lender’s requirements in its annual budget, according to Minister of State for Finance, Revenue, and Power Ali Pervaiz Malik.

The country has set ambitious revenue targets to secure the IMF loan, aiming to prevent another economic downturn despite domestic challenges. Malik expressed confidence in concluding the process within the next three to four weeks, emphasizing the importance of IMF validation.

Pakistan’s tax revenue target for the fiscal year starting July 1 is 13 trillion rupees ($47 billion), marking a significant increase from the previous year. Malik noted that the tough budget is a crucial step for the IMF program and that the lender is satisfied with the revenue measures implemented.

Economists highlight the urgency of an IMF deal to maintain stability in foreign exchange reserves and the currency amidst maturing debt repayments and eased import controls. Pakistan’s benchmark share index has seen a positive response, reflecting optimism about the impending IMF support.