Federal Minister of Finance, Miftah Ismail declared that the idea of breaching the IMF agreement is out of the question.
He shared an aspiring plan with the public on Wednesday, claiming that the government plans to raise $11 billion.
He also declared that the government will be selling two RLNG-based power plants to a friendly country to raise external financing of $2 to $3 billion. The name of the country was not disclosed but the Minister of Finance stated that he had visited this country and talked about shifting SDRs (Special Drawing Rights), gas and oil imports on deferred payments, and cash deposits. The SDRs transfer would be done by the end of 2022.
In a news conference held in Islamabad, Miftah Ismail stated: “We will not breach the IMF agreement as it was done by the PTI government by violating the Fund agreement in last February 2022 through the provision of unfunded subsidies. We will implement every prior action agreed with the IMF, including the collection of the Petroleum Levy. We will raise external financing of over $11 billion through friendly countries by selling out RLNG-based power plants to one friendly country through government to government (G2G) transaction.”
