Pakistan's request, IMF meeting expected on August 24

Pakistan's request, IMF meeting expected on August 24

 Pakistan's request, IMF meeting expected on August 24

Islamabad Web Desk

 

According to the details, Chief of Army Staff General Qamar Javed Bajwa is expected to make every possible effort to get US help to convince the IMF to cover the financing gap of 4 billion dollars. It will consider Pakistan's request to resume the stalled program at its meeting in Washington DC in August 2022.

The IMF has taken advance action to increase Pakistan's Petroleum Development Levy (PDL) by Rs 10 per liter and Rs 5 per liter on diesel from August 1, 2022.

It has also been written that the PDL will be increased further in the coming months of the current financial year including January 2023 and April 2023.

Pakistan's Finance Minister Miftah Ismail and Governor State Bank of Pakistan will sign the Letter of Intent next week and then Islamabad's request to the IMF's Executive Board for the completion of the 7th and 8th reviews and the $7 billion Extended Fund Facility. 1.17 billion dollars will be sent for issuance of installment under

 The official said that the finance minister will confirm and guarantee in writing to the IMF board through a letter of intent that the bilateral friends will meet the financial requirements for the current fiscal year.

Then in the board meeting the respective country directors will reiterate their commitment to provide financial support to Pakistan.

 According to the list of pre-actions handed over to Pakistan by the IMF, the Fund's staff demanded four conditions to present Pakistan's case to the Fund's Executive Board.