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Pakistan seeks 5 billion dollars from IMF

A visiting delegation of IMF held discussions with Finance Minister Ishaq Dar. The Minister briefed the delegation on the steps taken by the government to streamline the revenue and expenses as well as increase the tax collection.

Government of Pakistan has expressed its desire to seek as much as $5 billion budget support from IMF. It is learned that IMF has asked the government to remove the subsidy on electricity tariff and bring it in line with the market conditions. This means an increase in the per unit price. Government has resisted to accept this condition.

Opposition leaders has asked the government not to give in to the pressure of IMF and focus more on self-sustaining economic development. Asad Umar, member of PTI and former CEO of Engro, has expressed surprise that IMF is asking the government to raise the tariff but are not concerned with the high energy theft.

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