The government has decided to hold talks with the International Monetary Fund (IMF) for the next program immediately after the budget.
According to the sources, the government has taken a principled decision to terminate the existing loan program from the IMF.
The current program expires on June 30, with more than $2 billion in loans outstanding.
The negotiations for a billion dollars loan have been completed but the staff level agreement is not being reached, even if the staff level agreement is reached, the tenth and eleventh review negotiations are to be held.
It is unlikely that the 2 review negotiations will be completed before June 30, the current loan program will end on June 30, the government will not extend the program.
Negotiations with the IMF for the next program will begin immediately after the budget, if the PDM government fails to complete the negotiations, the caretaker government will complete the new loan program.
The economic team has started preparations to negotiate a new loan agreement with the IMF.
According to sources in the Ministry of Finance, the new loan agreement will be tougher than the current program, the new bailout program from the IMF will be for more than 3 years.
Pakistan will be in dire need of a new loan program in September, with a total of $24 billion to be repaid in the next fiscal year.
Sources have also said that Pakistan has to pay another 9 to 11 billion dollars of foreign debt by December.
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