Pakistan is optimistic to receive $200 million from the International Monetary Fund (IMF) in the second tranche under the Climate Financing Programme, it was reported on Monday.
Sources in the Ministry of Finance told the 24News TV channel that the government was working on meeting the conditions put forward by the IMF for the purpose.
The government had taken steps to deal with the phenomenon of climate change, sources said, adding that it had imposed Rs2.50 climate support levy on petrol and diesel each to meet the Fund’s demand.
Climate budget tagging has been extended to the expenditures of subsidies and grants in order to meet one of the conditions laid down by the international money-lending organization.
The IMF will give funds to Pakistan in the next one-and-a-half-year under the Climate Financing Programme.
On Thursday, 24News TV channel reported that Pakistan and the International Monetary Fund (IMF) would continue discussions over another round of funding from a $7 billion bailout programme aimed at restoring confidence in the country’s economy, amid questions on how the ongoing war in Iran may impact its eastern neighbour.
In a statement issued on Thursday, Iva Petrova, who led the IMF mission to Pakistan, said “While considerable progress was made in the discussions, these will continue in the coming days, including to more fully assess the impact of recent global developments on Pakistan’s economy and the EFF-supported programme.”
The talks were aimed at reaching a staff-level agreement (SLA) on the third review of Pakistan’s $7 billion Extended Fund Facility (EFF) and the second review of the Resilience and Sustainability Facility (RSF).
