By Ali Imran
ISLAMABAD: The caretaker government has made its first contact with the International Monetary Fund (IMF), said sources on Wednesday.
The Ministry of Finance and the IMF have made a virtual contact and discussed a new plan to decrease circular debt in the gas sector, sources said.
The lender has demanded an explanation over the new plan to reduce the circular debt in gas sector.
According to sources, a dividend scheme has been introduced to decrease the gas sector’s circular debt. “Dividend plug-in back scheme will reduce the circular debt by 400 billion rupees to 1200 billions,” sources said.
Caretaker Finance Minister Dr. Shamshad Akhtar will hold talks with the IMF, sources at the finance ministry said.
The Ministry of Finance and the IMF will hold talks over the economic review next month.
According to an earlier report, IMF delegation will visit Pakistan in November to review the economic performance after the continuation of the bailout programme.
The IMF delegation will review the economic performance from July to September.
The Fund and the caretaker set-up will hold key dialogue. Sources added that the IMF is likely to disburse $1.8 billion funds to Pakistan by March 2024. The Fund set condition for Pakistan to complete two economic reviews.
