The schedule of negotiations between Pakistan and the International Monetary Fund (IMF) on the new loan program has been fixed while the IMF mission will arrive in Pakistan on May 15.
According to the sources, following Pakistan has successfully completed the short-term loan program of 3 billion dollars, the schedule has been fixed between Pakistan and the International Monetary Fund (IMF) for negotiations on the new loan program.
According to the sources, the IMF mission will arrive in Pakistan on May 15 to discuss the new loan program. The parties will first have technical and then policy level talks. Pakistan has already applied to the IMF for the new loan program. has given
Sources in the Ministry of Finance say that the new loan program may be 6 to 8 billion dollars and the duration may be 3 years or more.
Pakistan has controlled inflation, government spending, reduced revolving credit, IMF
Sources say that it is inevitable to go to the new IMF program, increasing debt and debt repayment is a big challenge, it is necessary to stay in the IMF program till the increase in exports and local resource generation, to keep balance payments and reserves stable. It has been decided to go into the new program of the IMF.
According to the sources, the government will have to take more tough decisions to increase the prices of electricity and gas, increase the scope of taxes, and privatize loss-making institutions.
On the other hand, domestic manufacturing produced 6.1 million mobile handsets during the first 2 months of 2024 (January, February) while 0.3 million were commercially imported.
Local manufacturing produced 3.83 million mobile handsets during February while 0.06 million were commercially imported, official data showed.
In addition, 6.1 million domestically produced mobile phone handsets include 2.78 million 2G and 3.35 million smartphones.
According to PTA data, 60 percent of mobile devices are smartphones, and 40 percent are 2G on the Pakistan network.
Abnormal demand for phones made in Pakistan created shortages
Local manufacturing of mobile handsets is projected to decline by around 4 percent during 2023, due to import issues arising from the ban on opening of letters of credit for mobile phone parts.
Despite the restrictions, imports of mobile handsets increased during the period, according to official data.
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2024-04-29 05:39:43
