International Monetary Fund (IMF) has stiffer new conditions to release the next tranche of the bailout to Pakistan
The IMF has set for new conditions in its third review report, while changing the conditions already imposed.
The government’s failure in meeting the target of the fiscal deficit and other conditions the new are being slapped, the store said.
The investment company has slapped four new conditions in Pakistan after the government showed reluctance in reforming some of the vital regions of the economic system. These conditions include steps to pass on real operational independence to the State Bank of Pakistan (SBP).
Another new condition is filling vacancies in the NEPRA board by the remainder of current month and the public debt management.
The fourth condition is offering minority shares in UBL and PPL to domestic and international investors, which has been matched by the government.
In the review report IMF has expressed satisfaction over the operation of economic and fiscal reforms in Pakistan. It also noted that the regime has begun getting rid of the SROs and called it a good step for the health of the economic system.