The IMF is ready to relax its conditions regarding the new national budget

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have agreed to ease the implementation of the IMF’s terms in the federal budget for the next fiscal year 2020-21, due to Corona. Ready to soften.

According to the Ministry of Finance, talks are underway between Pakistan and IMF officials before the budget, in which significant progress has been made on increasing the salaries and pensions of government employees in the new financial year. Due to the Corona epidemic, the International Monetary Fund has agreed to relax conditions until the first quarter of the next fiscal year.

Pakistan has told IMF officials that electricity or gas prices will not go up until October. At the same time, Pakistan has assured the IMF that the government will not borrow from the SBP. Negotiations have agreed to maintain relief until the first quarter of the next financial year. It is proposed to increase non-tax revenue to control the budget deficit, while most of the terms of the loan program will be implemented after October.