Pakistan eyes ‘larger, longer’ bailout package

ISLAMABAD: The government declared its intention on Tuesday to negotiate a “longer and larger” ec­o­­nomic bailout package with the International Mo­n­­e­tary Fund (IMF), targeting to sustain the nasc­ent macroeconomic stability. In his first formal media interaction after having a series of briefings, including on external account needs and fiscal situation, Finance Minister Auran­gzeb Khan, a professional banker, also hinted at a potential reduction in the central bank’s policy rate, albeit with a disclaimer about the monetary policy committee’s autonomy. Besides, Mr Khan pledged to rapidly implement comprehensive digitalisation of the tax system, from assessment to collection, aimed at enhancing transparency and widening the tax base. He also announced the imminent privatisation of the national flag carrier, Pakistan Interna­tional Airlines (PIA).