Pakistan claims IMF conditions are too harsh. ILLUSTRATION: JAMAL KHURSHID
Reasons for the refusal were attributed to the harsh nature of the conditions proposed by IMF.
Earlier on Friday, the government had paid $260 million to the International Monetary Fund (IMF) as a part of loan repayment.
On Thursday, Finance Minister Ishaq Dar rejected IMF’s demand to levy new taxes worth Rs275 billion as a pre-condition for new program.
The draft containing details of the conditions that IMF asked Pakistan to impose will be given to the finance officials on Sunday.
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