Pakistan, IMF finalise talks on fresh bailout package

ISLAMABAD: The second round of ongoing talks between Pakistan and a visiting delegation of the International Monitory Fund (IMF) on fresh bailout package concluded on Wednesday and Islamabad is likely to formally seek $5 billion package today, sources said.

Finance Minister Ishaq Dar and IMF delegation headed by Jeffery Frank held final round of talks in Islamabad.

During the talks both the sides agreed on measures for increasing tax income, ending subsidies on electricity and raising power tariff within the next three years in different phases. However, consumers using up to 300 units would continue to get electricity on subsidized rates.