Pakistan asks IMF to pour in more funds, raise programme duration

The country's new government led by Shehbaz Sharif has promised populist measures and kept fuel prices unchanged this month to provide relief to citizens grappling with Asia's second-fastest inflation

Pakistan has asked the International Monetary Fund to extend its loan programme for a year and boost the $6-billion funding to help ease difficulties in financing as a new government stepped in this month amid protests spearheaded by ousted premier Imran Khan.

Miftah Ismail, Pakistan’s finance minister, said the requests were made during “positive” talks with the fund for the resumption of loan program. The IMF has “largely agreed” to extend the current program for another year but details would be thrashed out during a mission visit to Pakistan next month, he said at a news conference in Washington.