The discussions between the International Monetary Fund (IMF) and Pakistan are underway to “quickly” revive the stalled bailout package, global lender’s mission chief to Pakistan Nathan Porter said on Tuesday.

“Over the past few days, the Pakistani authorities have taken decisive measures to bring policies more in line with the economic reform programme,” he said in a statement.

The measures include the passage of a budget by the parliament that broadens the tax base while opening up space for higher social and development spending as well as steps towards improving the functioning of the foreign exchange market and tightening monetary policy to reduce inflationary and balance of payment pressures that affect particularly the more vulnerable,” the statement added.

“The IMF team continues discussions with Pakistani authorities with the aim of quickly reaching an agreement on financial support from the IMF,” the official added.

More to follow..