Pak-IMF deadlock deepens amid economic crisis; Impasse over PKR 900 BN fiscal gap | Details

Talks between the International Monetary Fund and Pakistan govt have hit a snag in the form of a ₹ 900 billion fiscal gap. IMF has called for GST rates to be increased by 1% for petroleum, oil, and lubricant (POL) products but the Shehbaz Sharif govt is contesting the fiscal gap in achieving the primary deficit. Pakistan's Prime Minister Shehbaz Sharif had earlier said that the government would have to agree to IMF bailout conditions that he described as 'beyond imagination' as the country battles a spiraling economic crisis.