Pakistan and the International Monetary Fund are holding an important meeting in the federal capital on Wednesday, where the proposed bailout package and the country’s economic situation will be reviewed, among other matters.

The visiting IMF delegation, which arrived in Islamabad on Monday, is expected to conclude the technical details of the proposed loan by May 6. The proposed bailout package is expected to range between $7-8 billion.

Today’s round of talks will focus on briefing the IMF team on the tax amnesty scheme by the Federal Board of Revenue, privatisation programme, power and gas tariffs, and the government’s policies.

The Pakistani delegation is led by adviser to Prime Minister on finance, Dr Abdul Hafeez Shaikh, and includes three additional secretaries and a senior joint secretary from the finance ministry. Secretaries from the Power Division, Petroleum Division, and the chairmen of the FBR and Securities and Exchange Commission of Pakistan are also participating in the talks.

Prime Minister Imran Khan had met IMF Director Christine Lagarde on Friday on the sidelines of the second Belt and Road Forum in Beijing, China. During the meeting, the two sides had agreed on the importance of the IMF programme for the country and reviewed the relationship between Pakistan and the global lender.

Khan had identified areas of reforms and initiatives being undertaken by his government to stabilise the economy, control inflation and achieve fiscal balance.

The two parties had also agreed on the need for a social safety net for vulnerable groups of the society.

After the meeting, the IMF director, in a social media post, had said that she was glad to meet the Pakistani premier in a meeting where a comprehensive policy package was discussed to alleviate the country’s economy.

“We discussed prospects for a comprehensive policy package and international financial support to help stabilize the economy of Pakistan, and also the need to strengthen governance and protect the poor,” she had said.