ISLAMABAD
\nFinance minister Ishaq Dar has begged help from British High Commissioner to make deal with International Monitory Fund (IMF).
\nBritish High Commissioner will talk to IMF about restoration of program.
\n According to sources Revenue minister Ishaq Dar came in action to get IMF program. Finance minister held virtual meeting with British High Commissioner.
\nIn meeting Ishaq Dar informed British High Commissioner about economic situation and suspension of IMF program.
\nSource told that Ishaq Dar requested British High Commissioner to help for IMF deal.
\nBritish High Commissioner assured Ishaq Dar over his help to make IMF deal.
\nBritish High Commissioner will talk about restoring IMF program.
\nFinance minister held meetings with ambassadors of many country after failure in negotiation with IMF. He informed envoys about talks with IMF.
\nOn Ishaq Dar\u2019s recommendation ambassadors of different countries will hold talks with IMF.
\nPakistan-IMF talks collapse as current agreement expires on 30th
\nThe ongoing talks between Pakistan and the International Monetary Fund (IMF) have failed, meaning that the country would no more get any money from the world\u2019s top lender as the current programme expires on the 30th of this month.
\nAlthough the finance ministry tried to convince the IMF by explaining Pakistan\u2019s position on different reservations and conditions, the process led by Finance Minister Ishaq failed to produce the desired results.
\nThe news will certainly further fuel the speculations that Pakistan would default in the coming months as many experts and global institutions have already been warning about the possibility. However, the government thinks otherwise and there are reports of \u201cPlan B\u201d already being activated amid the likely scenario of failing to get the IMF deal don.
\nEarlier, it was reported that Pakistan was not on agenda of the scheduled IMF Executive Board meetings this month, which start from June 20 (Tuesday) to June 29 with a gap on weekend. But there was still a remote possibility of including Pakistan on agenda if the ninth review is completed successfully.
\nIt is the steady addition of new conditions and the latest reservations expressed on the next year\u2019s budget that have delayed the approval since Nov 2022 despite regular contacts between two sides.
\nThe country has been awaiting the IMF\u2019s final approval of the pending 9th review under the Extended Fund Facility (EFF) programme which will expire on June 30 without the disbursal of the remaining $2.6 billion out of a total of $6.5 billion. Hence, there hasn\u2019t been any possibility of making any progress on the 10th review.
\nAmong other things, Pakistan has been accused of controlling the rupee exchange rate artificially and not reversing subsidies \u2013 the two issues about which Finance Minister Ishaq Dar is very much clear.
\nDar has been of the opinion that the depreciation of rupee is the main reason behind Pakistan\u2019s economic woes and this stance is nothing new as he has always been a staunch advocate of strong currency.
\nOn the issue of subsidies, not only Dar but also the entire PML-N leadership \u2013 barring a few exceptions like Miftah Ismail and Shahid Khaqan Abbasi \u2013 thinks that they can further burden the people who are already hit hard by unprecedentedly high inflation due to currency depreciation and jacked up interest rate \u2013 the two policies dictated by the IMF.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Finance minister Ishaq Dar has begged help from British High Commissioner to make deal with International Monitory Fund (IMF). British High Commissioner will talk to IMF about restoration of program. According to sources Revenue minister Ishaq Dar came in action to get IMF program. Finance minister held virtual meeting with British High Commissioner. In […]<\/p>\n","protected":false},"author":2,"featured_media":333259,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1925],"class_list":{"0":"post-338960","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news","8":"tag-ishaq-dar"},"yoast_head":"\n