ISLAMABAD - Talks between Pakistan and International Monetary Fund (IMF) have been extended for one day and would conclude today (Friday).

Talks between Pakistan and IMF were supposed to complete on Thursday. However, it is expected that talks would conclude on Friday.

Sources said that Pakistan was convincing IMF for not increasing the gas and power tariff to avoid further increase in inflation rate. Prime Minister Imran Khan had already announced not to increase the electricity and gas prices to control the soaring inflation rate. However, IMF is asking to present its alternate plan, which could work. 

Talks between Pakistan and IMF for second economic review had started from February 3 in Islamabad. The IMF would release third tranche worth of $450 million if visiting delegation express satisfaction over economic situation of the country.  Pakistan has so far received $1.44 billion from IMF in two tranches. The IMF in July 2019 had approved a 39-month extended arrangement under EFF for Pakistan for an amount of about $6 billion.