Bailout negotiations with IMF continue for second day

Talks between the technical team of the International Monetary Fund (IMF) and Pakistan will continue in Islamabad for a second day today (Thursday).

The delegation which arrived on October 7 will be in the country for two weeks to hold talks regarding a possible bailout package.

According to sources, data regarding the different sectors of the economy will be shared with the fund team today. “Data of Pakistan’s power sector will be shared with IMF’s technical team today along with the sector’s losses and recovery,” sources said.

“The second phase of talks between Pakistan and IMF will commence from Monday and the discussion to focus on different policy matters,” sources added.

Talks between IMF and Pakistan will continue till November 20 with finance secretary, chairman Federal Bureau Revenue and governor State Bank of Pakistan in attendance during the meetings.

Pakistan has requested the fund for a $6-7 billion bailout package.

Speaking in Geo News programme Capital Talk on Wednesday, Finance Minister Asad Umar said, Pakistan will receive some $5-6 billion.

The stage to discuss bailout package conditions with the monetary fund is yet to come since the delegation is in Islamabad for two weeks, he said.

“If IMF puts forth conditions that are not in the national interest, we will not accept them. All arrangements made to date have been so that Pakistan does not have to bend over should the IMF set such conditions,” Umar explained.