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The interim federal government has chosen to develop an economic plan for the incoming elected government. Additionally, there are indications that discussions with the International Monetary Fund (IMF) for a new bailout package may commence.
Insiders suggest that electricity and gas prices could rise further before the upcoming IMF board meeting, where the staff-level agreement on the first review under Pakistan’s Stand-By Arrangement (SBA) will be considered. This board meeting is anticipated to take place in the first week of December.
Read more : Here is How Much Wealth the Interim PM Kakar and his Cabinet Ministers Own
To meet its external financing requirements of $25 billion for the current fiscal year (FY24), the government plans to borrow funds from Gulf countries, China, and commercial banks. Sources also reveal that the Chinese government has committed to extending its loan to Pakistan for an additional two years. Additionally, it is suggested that Pakistan may need to secure necessary external financing before the IMF board meeting.
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