What assurances did Pakistan give to IMF?

ISLAMABAD: Today will be the last round of negotiations between the federal government and the IMF.  

According to details, today is the last day of negotiations between Pakistan and IMF, and the federal government will finalize the memorandum of economic and financial policies. IMF officials said that the negotiations would end today, however, in case of any complications, the negotiations may be extended by one day.

Pakistan is expected to get approval from the IMF’s executive board next month for the final tranche of the current loan program. From April 15, the annual meetings of the World Bank and the IMF will begin in the American capital, Washington, Pakistan will apply for a new and larger loan program.

On the third day after Federal Finance Minister Muhammad Aurangzeb was sworn in, the IMF mission arrived to visit Pakistan. Finance Minister Mohammad Aurangzeb is leading the talks with the IMF and will also attend the spring meetings of the IMF and the World Bank in Washington.

Assurances to the IMF

The federal government led by Prime Minister Shehbaz Sharif has assured the IMF to increase the tax on the sale and purchase of property by non-filers. Pakistan has also responded positively to registering all housing societies while the proposal to make the purchase of property through banks mandatory is also under consideration.

Recently, the IMF urged Pakistan to end the supply of cheap gas. Next month, Pakistan will formally request a new $8 billion bailout package from the IMF. On the recommendation of the IMF, the government is ready to increase the price of gas in other cities including Karachi, Lahore, Peshawar, and Quetta.