Pakistan receives MEFP from IMF for 7th and 8th review: Miftah.

ISLAMABAD -- Pakistan has received combined economic and financial targets for the seventh and eighth reviews of its International Monetary Fund bailout programme, the finance minister said on Tuesday.

On Twitter, the finance minister, Miftah Ismail, said the government had received the lender's Memorandum of Economic and Financial Policies (MEFP) for both reviews, following meetings last week.

The MEFP is a key step to indicate that the two parties have reached an agreement.

The government wants to conclude an agreement with the international lender for the revival of the $6 billion programme before the approval of the federal budget for the upcoming fiscal year 2022-23 - which needs to be done by June 28.

The finance ministry said in a statement on Sunday that the IMF would hand over the economic and financial policy for the renewed deal, providing an economic relief package to Pakistan. 'The Pak-IMF deal providing Pakistan with the $1 billion loans will be sealed by tomorrow (Monday) as IMF plans to hand over Pakistan the economic and financial policy,' the statement had said.

Finance Minister Miftah Ismail had told the National Assembly (NA) that although the country is rife with negative sentiments expressed by many financial quarters, it looks very likely that the restoration of the IMF programme is in the...