IMF bars Pakistan from giving subsidy without approval

IMF bars Pakistan from giving subsidy without approval No agreement in sight as Pakistan, IMF differ on prior actions. Fund asks for confirmation from commercial banks. Controversy over cross-fuel subsidy has largely been resolved. ISLAMABAD: The International Monetary Fund (IMF) — through the Memorandum of Economic and Financial Policies (MEFP) — has made it clear that Pakistan will not provide any kind of additional subsidy without prior approval of the lender as both sides struggle to arrive at a consensus on fiscal adjustment plans, The News reported. Pakistan and the IMF have been negotiating since late January on an agreement that would release $1.1 billion to the cash-strapped, nuclear-armed country of 220 million people. Do not miss an important news update ever. Subscribe and hit the bell icon to subscribe to Geo News alerts https://bit.ly/3rDNo5j Watch Geo News LiveStream: https://youtube.com/live/O3DPVlynUM0 For More Videos Subscribe -    / geonews   Visit our Website for More Latest Update - https://www.geo.tv/ #IMF #BreakingNews #GeoNews