ISLAMABAD: Finance Minister Miftah Ismail said the government and IMF would sign the staff-level agreement in June this year.
He said the IMF programme’s revival is expected next month after the federal government decided to raise the price of petroleum products by Rs30 as the Fund did not resume the programme due to the subsidies provided on oil and power.
Addressing a press conference on Saturday he said the funds — under the Extended Fund Facility (EFF) — would be released after final approval by the IMF board.
The minister said that Pakistan has requested the Fund to extend the program by one year and provide an additional $2 billion.
If the international money lender agrees to provide Pakistan with the additional amount, the country expects around $5 billion from the Fund, minister added.
He said that the IMF programme was important not just because the country gets money from the Fund, but it plays an important role in opening ways for getting additional funds from other multilateral organisations — like World Bank and Asian Development Bank.
The finance minister said once the Fund releases the latest tranche, Pakistan would get money from multilateral organisations, noting that around $8.9 billion were already in pipeline from World Bank.
