Millennium Post

US puppet IMF demands details of Pak financial assistance deal with China

Islamabad: The IMF has demanded Pakistan provide all details of China's financial support to the cash-strapped country to avail a bailout package from it, according to media reports.

The International Monetary Fund mission is in Pakistan and holding talks with officials over arranging an unspecified amount to help in addressing the balance of payment issue.

As talks enter the final phase, the IMF set stricter conditions for Pakistan to implement in exchange for a bailout package much needed for economic revival. Some of the major conditions include imposition of more taxes worth Rs 150 billion, further reduction in the rupee value as well as a tighter monetary policy. It also sough from Pakistan all details of Chinese financial support for any bailout package to Pakistan.

Led by its mission chief Harald Finger, the IMF delegation is holding meetings with government officials to know their viewpoint on the reforms.

There were no indication that the two sides are close to any agreement, Dawn reported.

Finance Minister Asad Umar said on Monday that the talks were moving ahead positively but there were still differences, the report said.

"There are still gaps in the position of the IMF and the position that we have," Umar said after a series of meetings with an IMF team.

Umar said the IMF visit would conclude on Tuesday and he had no funding emergency to worry about day after tomorrow. He said that $1 billion of the $3 billion committed by Saudi Arabia had been remitted to the State Bank of Pakistan on Monday and the remaining $2 billion would follow over the next few days.

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