IMF to 'continue engagement' despite political unrest: report | The Express Tribune
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The International Monetary Fund (IMF) said that it will "continue engagement with the government on the loan despite the ramp-up in political tensions”, Bloomberg reported on Thursday. The remarks by the IMF come days after former prime minister Imran Khan was arrested from the Islamabad High Court (IHC) on May 9 in the Al-Qadir Trust case, leading to political unrest in the country. The Bloomberg report also maintained that the international money lender said that Pakistan will scrap a new fuel subsidy proposal, a decision that potentially clears a hurdle to unlock a long-delayed $1.1 billion loan disbursement, In response to email questions, an IMF spokesperson said that Pakistan had “committed not to implement a so-called cross-subsidy programme in the current fiscal year and beyond”. The IMF added that the incumbent government would not introduce new tax exemptions and would “durably allow” a market-based exchange rate for its currency, the rupee. Read Gov...