Pakistan is requesting a $6 to $8 billion bailout package from the international lender over the next three to four years to address its financial troubles.

A mission team led by Nathan Porter, the IMF’s Mission Chief in Pakistan, is meeting with a Pakistani delegation led by Finance Minister Muhammad Aurangzeb.

According to sources familiar with the situation, Islamabad may face more difficult options, such as raising power and gas bills.

Mr. Aurganzeb informed the IMF team that the country’s economy has improved as a result of the IMF loan package, and Islamabad is ready to sign a new loan programme to further develop.

The IMF mission expressed satisfaction with Islamabad’s efforts to revive the country’s struggling economy.

The IMF praised Pakistan’s economic growth in its staff report earlier this week, but warned that the outlook remains challenging, with very high downside risks.

The country nearly avoided collapse last summer, and its $350 billion economy has stabilized since the end of the last IMF program, with inflation falling to roughly 17% in April from a record high of 38% last May.

Director General and Ambassador Wang Fu Kang, as well as Pakistan’s ambassador to China, Khalil Hashmi, welcomed the deputy prime minister, upon his arrival.

In the strategic dialogue, the parties will examine bilateral relations in detail, covering the geopolitical environment, future connectivity projects, high-level visits and exchanges, economic and trade cooperation, and the upgrading of the China-Pakistan Economic Corridor.

Chinese leaders, senior ministers, and prominent business executives are anticipated to meet with Deputy Prime Minister and Foreign Minister Ishaq Dar outside of the strategic conversation.

Regular high-level contacts between China and Pakistan include the visit of the deputy prime minister. In conclusion, the FO statement said, “It reflects the importance attached by the two countries to further deepening the “All-Weather Strategic Cooperative Partnership,” reaffirming mutual support on issues of core interest, enhancing economic and trade cooperation including CPEC, and reinforcing joint commitment to regional peace and development.”

Dar’s arrival is anticipated by China.
The first formal visit to China by Foreign Minister and Deputy Prime Minister Ishaq Dar, scheduled for May 13–16, is considered a significant component of the institutional interactions between the two foreign ministries, according to the Chinese Foreign Ministry.

At his routine news conference, spokesperson Lin Jian stated, “China is willing to work with the Pakistani side to take this visit as an opportunity to further implement the important consensus of the leaders of the two countries.” The Foreign Minister-Level China-Pakistan Strategic Dialogue was to convene for its sixth round, he mentioned.

China and Pakistan decide to move CPEC projects more quickly.
Not to mention, China and Pakistan have decided to expedite the implementation of several sectors’ worth of CPEC projects.

At their meeting on Friday in Beijing, Vice Chairman Zhao Chenxin of the National Development and Reform Commission of China and Minister Ahsan Iqbal for Planning and Development came to an understanding.

An Action Plan for the modernization of the mining, industry, and mineral sectors was developed by both parties, and the Industrial Cooperation Framework Agreement was to be implemented.

Additionally, they decided that in the second phase of CPEC, collaboration in artificial intelligence and agricultural modernization will be given priority.

In order to maximize the potential of Gwadar’s port and industrial zone, they committed to building the Eastbay Expressway to improve the city’s connectivity.

Through the signing of four Memorandums of Understanding (MoUs) for the start of technical studies on the D.I. Khan-Zhob Road, the Babusar Tunnel, the Mirpur-Muzaffarabad-Manshehra Motorway, and the Karachi-Hyderabad Motorway, the two sides also discussed strengthen road and highway infrastructure cooperation.

They also decided that the Joint Coordination Committee of CPEC would meet again prior to the prime minister’s next trip to China.

“People gradually realize that there isn’t a wheat crisis or scandal; there has been an attempt to stir up controversy over petty issues, and over the last 12 years, the nation’s production and demand targets have significantly changed,” Anwarul Haq Kakar stated.

What sort of wheat scandal, Kakar wondered, where the item is getting cheaper instead of getting more expensive?

During the previous government’s tenure, we did not permit the private sector to import more wheat, according to the former caretaker prime minister. Private importers import wheat in order to meet supply and demand principles in the market.

He argued, “How can we be accused of corruption when the PTI government released this SRO for the import of wheat?”

Anwarul Haq Kakar replied in response to a question that the media had made up this story and that he had not received any offer from the government regarding a position.

“I am an independent senator serving in the Senate along with Mohsin Naqvi and Faisal Vawda. We are representatives of the federation, and our mandate has been granted by our provincial members. Neither our voter nor their identity is secret, nor is the agenda unknown.