ISLAMABAD: The International Monetary Fund (IMF) has demanded a moratorium from Pakistan for a new loan program.
According to the sources, the IMF demanded the Pakistani authorities to reduce the restrictions imposed on imports in the new budget, end the subsidies given to the export sectors and reduce the duties on imports in the new budget. The IMF stressed that the imports Restrictions should be phased out.
According to sources, the Ministry of Finance has agreed to reduce the duties imposed on imports. The Ministry of Commerce emphasized on the protection of the local industry in the decision to reduce the tariff and took a stand that the decision to reduce the tariff should be made keeping in mind the protection of the local market. The Ministry of Commerce has also opposed the complete lifting of restrictions on imports.
