Govt agrees to accept IMF demands including electricity & Gas price increase
There was an on going deadlock between Government of Pakistan and the International Monetary Fund (IMF) on disbursement of next iteration of funds to Pakistan due to four demands of IMF. As after the floods and the political instability Pakistan’s economic situation got worse, so IMF thought until and unless Pakistan takes some more measures to collect funds, it will not go forward with disbursement of next over one billion US dollar funds. Government first has been hesitant on accepting the different action items on the IMF’s demand list but after the foreign reserves got dangerously low and other lenders have linked their lending process to IMF’s fund disbursement, govt of Pakistan left with no other option to accept the […]