News @ 3 - 10th May 2019

ISLAMABAD: Talks between Pakistan and the International Monetary Fund (IMF) have entered in its concluding phase as both the sides are likely to strike the fresh bailout package deal on Friday (today), ARY News reported.

The loan amount is expected to be around $6.5 billion for a three-year duration, the sources informed.

According to reports both sides holding the final round of talks today, the interest rate will be increased by 200-basis point.

The current account deficit is predicted to remain around $8 billion for the upcoming financial year of 2019-20, whereas subsidies of Rupees 350 billion will be taken back by the government.

It has been agreed that the power sector regulator, the National Electric Power Regulatory Authority (NEPRA), would be made autonomous and the government interference to take popular decisions would be minimised.