Finally, the good news for Pakistan as an agreement has taken place between Pakistan and IMF. Now IMF will resume Loans to Pakistan.
A source within the Ministry of Finance has confirmed this news regarding this agreement and later it was confirmed by Finance Minister Miftah Ismail on his official Twitter handle.
“The first tranche is expected to be SDR894 million, equal to $1.2 billion. The program has been extended till July 2023, and total program size increased by $1bn to $7bn,” they said. The Washington-based lender has also agreed to increase the loan program size by $1 billion — taking it to a total of $7 billion — and extend it through June 2023, the person said.
Pakistan has raised electricity tariffs and almost doubled diesel pump prices over the past two months to meet IMF conditions.