ISLAMABAD : International Monetary Fund (IMF) has agreed to continue to extend talks with Pakistan on conclusion of Doha round . The fund in its joint statement stressed upon the government of Pakistan to withdraw subsidy on petroleum products and power . It also demanded of Pakistan to go for structural reforms to strengthen its process of weeding out weaknesses in Pakistan’s economic system . The fund , according to the joint statement issued after Doha round , termed Pakistan government decision of jacking up its policy rare . Pakistan , according to an official privy to outcome of Doha round told NEWSMAN that Pakistani team presented a detailed plan to reform its economy in budgetary layout made for the budget 2022-23.
IMF and Pakistan ‘s economic team led by Finance minister , Miftah Ismail , held a week long talks in Doha Qatar. The fund will decide to issue installment of $ 1 billion to Pakistan on the basis of outcome of Doha meeting .
Pakistan has requested the fund to release it an installment of $1 billion to support its economy and avert a serious crisis. The fund has agreed to consider Pakistan request but it demanded a set of pre conditions like withdrawal of subsidy granted by previous government . The coalition government is feeling difficult to fulfil IMF condition to withdraw subsidy on power and petroleum products . It agreed with the IMF to withdraw the subsidy on both …petroleum products and power… in fiscal year 2022-23. The fund also put a condition of addressing the issue of high inflation and widened current account deficit to qualify for its $ 1 billion.
