In a media interview last month, Defence Minister Mohamad Sabu said that the expenditure of most ministries have been temporarily halted to channel funds to bailout
TH and the Federal Land Development Authority (Felda).
Earlier on Sunday, Pakistan had reached an accord with the IMF for a three-year, $6 billion bailout
package aimed at shoring up fragile public finances and strengthening a slowing economy.
Criticising Pakistan Peoples' Party (PPP), whose senators have repeatedly criticised the government for not taking the parliament on board regarding the IMF bailout
package, the minister said that the party during its tenure had never taken the parliament into confidence whenever it approached the IMF.
Finance adviser discusses bailout
package with IMF's Pakistan chief
Asad Umar said that that IMF would finalize the bailout
package for Pakistan during a visit of an IMF team due in Pakistan later this month.
Umar told the committee that an IMF mission will visit Islamabad during the last week of April, which is when the bailout
package amount will be finalised.
'Many of the states that received the bailout
have not learnt any lesson on what to do to generate revenue or to prioritise expenditure, to prevent further economic crises in their states,' he said.
The finance minister claimed that the government's decision to approach the IMF for the bailout
package was the inevitable due to wrong economic policies of the past government causing enhanced current account deficit.
The deposit comes in the backdrop of dark circumstances- the bailout
comes at a time when Saudi Arabia's human rights violations record is in international scrutiny due to the controversial death of journalist, Jamal Khashoggi, at the Saudi Embassy in Istanbul.
It was the nation's third since 2010, and the country has altogether received 288 billion euros ($330 billion) from creditors, making it the biggest bailout
On Monday, Greece exits the third and final bailout
program of a nine-year debt crisis that has chopped around a quarter off the country's economy.
ISLAMABAD -- Minister for Finance Dr Miftah Ismail Saturday said the government had no intention to get any bailout
package from International Monetary Fund (IMF) as it believed that economic measures taken during the last five years would take the country to strong financial position.
Global Banking News-October 17, 2017--Greek central bank head calls for speedy conclusion to bailout
Download Greece gets credit lifeline, IMF joins bailout
NNA - Euro zone governments threw Greece another 11th-hour credit lifeline on Thursday worth $9.5 billion and sketched new detail on possible debt relief as the IMF finally offered to help out after two years of hesitation.