Pakistan and International Monetary Fund will hold 7th review talks later today (Friday) to discuss the relief package announced by Prime Minister Imran Khan recently, reported 24NewsHD TV channel.

According to the finance ministry sources, the policy-level talks between the economic teams of both Pakistan and the Fund will be held virtually. Foreign Minister Shaukat Tarin will hold talks with the officials of the global money lender on March 8. They will also discuss the relief package announced by Prime Minister Imran Khan in which he announced to slash petrol and electricity price.

Under the relief package, the government is giving Rs160 billion subsidy on petroleum product and provide a direct subsidy of Rs200 billion on electricity. Prime Minister Imran Khan announced reduction in petrol, diesel prices by Rs10 per litre and electricity tariff by Rs5 per unit. 

The talks will go on for two weeks for the completion of 7th Review under the $6 billion Extended Fund Facility (EFF) programme. The IMF would release $1 billion to Pakistan under the EFF programme in case the talks were successful. 

Both the teams will also discuss measures for bringing improvement in the macro-economic stability. 

Reporter Waqas Azeem