Pakistan, IMF to strike deal after budget approval.

ISLAMABAD -- The talks between the Pakistani authorities and International Monetary Fund (IMF) staff will now resume after the approval of the budget for incoming fiscal year 2022-23, during which the two parties will strike a deal for a loan facility.

It may be recalled that the Fund confirmed major progress in Pakistan-IMF parleys last week.

Sources within the Ministry of Finance said that the talks are expected to resume on June 28, and Finance Minister Miftah Ismail and State Bank of Pakistan governor will sign the contract on Pakistan's behalf.

The sources further stated that Pakistan has requested IMF to enhance the programme to $8 billion instead of $6 billion and asked for an extension of a year to prolong the programme till 2024.

They said the budget for the next financial year will be around Rs10,000 billion, while 11% sales tax will be levied on petroleum...