Caretakers to Prepare Economic Blueprint for Next Govt

The caretaker federal government had decided to prepare an economic blueprint for the upcoming elected government. According to sources, the caretaker government is also likely to initiate talks with the International Monetary Fund (IMF) over a new bailout package. Sources further said that electricity and gas prices are likely to further go up before the IMF’s board meeting that will consider the staff-level agreement on the first review under Pakistan’s Stand-By Arrangement (SBA). The board meeting is expected in the first week of December. To meet its external financing needs of $25 billion for the current fiscal year (FY24), the government will borrow money from Gulf countries, China, and commercial banks. According to sources, the Chinese government has also committed to roll over its loan to Pakistan for a further two years. Pakistan may also need to secure necessary external financing before the IMF board meeting, sources added.