Senior Pak officials held discussions with IMF delegation on bailout package

Vastavam web: Senior Pakistani officials on Wednesday held technical discussions with a visiting IMF delegation for a bailout package to the cash-strapped country. The talks will continue for about a week. Pakistan is seeking USD 8 billion from the International Monetary Fund (IMF) to bail itself out from a severe balance-of-payments crisis that threatens to cripple the country’s economy. With the generous Chinese assistance, Pakistan has so far received a total of USD 9.1 billion in financial aid packages from friendly countries during the current fiscal year.

Secretaries from the power and petroleum divisions, and the chairmen of the Federal Board of Revenue (FBR) and the Securities and Exchange Commission of Pakistan also participated in the talks. Prime Minister Khan met IMF Director Lagarde on Friday last week on the sidelines of the second Belt and Road Forum in Beijing. During the meeting, they agreed on the importance of the IMF programme for the country and reviewed the relationship between Pakistan and the global lender, the report said.