<\/p>\n
\u2022 Govt cites high interest rates as it postpones issuance of $1.5bn international bond
\u2022 Caretaker minister hints at new Fund programme after elections
\u2022 Says another gas price hike slated for January<\/p>\n
ISLAMABAD: The government has deferred its plans to issue a $1.5 billion international bond, Caretaker Finance Minister Shamshad Akhtar said on Thursday, stressing that the country will have to go for more IMF loan programmes for some time as the economy remains fragile.<\/p>\n
Her remarks came a day after the government reached a staff-level agreement<\/a> with the International Monetary Fund on a nine-month bailout package.<\/p>\n During a press briefing, Dr Akhtar outlined key aspects of the IMF agreement, affirming the government\u2019s commitment to regular tariff adjustments, including a planned gas price hike in January to prevent the accumulation of circular debt in both the gas and power sectors.<\/p>\n The electricity and gas rates would be \u201ccontinuously revised\u201d and their costs controlled besides transferring their management to the private sector as soon as possible and institutionalising ongoing campaign against power and gas theft, she said.<\/p>\n She said Pakistan would also need to adhere to the market-determined exchange rate completely, remain responsive through adequate monetary policy adjustment, particularly to core inflation, and bring four more state-owned enterprises in line with the financing and governance template of the newly approved SOE law<\/a>.<\/p>\n These four state firms include the National Highway Authority (NHA), the Pakistan National Shipp\u00ading Corporation (PNSC), the Pakistan Broadcasting Corporation (PBC), and the Pakistan Post.<\/p>\n