Islamabad (Agencies): Pakistan has struck a deal with the International Monetary Fund (IMF) on a bailout package for about $6 billion over the next three years, PM’s Adviser on Finance Dr Abdul Hafeez Shaikh confirmed on Sunday.
In an interview with state-run Pakistan Television (PTV), Shaikh said the IMF will provide US$6 billion to Pakistan in three years while an additional amount of two to three billion dollars may likely come from World Bank and Asian Development Bank on less interest rate.
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Dr Abdul Hafeez Shaikh said the IMF programme will be implemented after its formal approval from fund’s board. He said the agreement will improve debt situation and sent a positive signal to the world to attract foreign investment.
He further said that the IMF programme will provide an opportunity to bring structural changes to handle issues pertaining to loss making state owned enterprises, exports, and to enhance revenue.
Shaikh said structural reforms and successful implementation of the IMF programme are vital for sustainable development and prosperity.
