The Pakistan's Finance Ministry is in talks with the International Monetary Fund to obtain a new three-year loan under the fund's extended loan program.

There is a possibility of signing a mega program of $8-10 billion with the IMF after the current program ends on March 31, 2024, sources told Bold Discussions.

According to sources, the Finance Ministry intends to provide a new three-year loan program as part of the extended financing of the International Monetary Fund. Before finalizing this agreement, the Finance Ministry wishes to assure the IMF that all the conditions set by the new loan program have been met.

IMF proposals for the federal budget for 2024-2025 will be presented to the Finance Ministry later.

Under the terms of the proposed loan program, electricity and gas prices are expected to increase and subsidies will be further reduced. The terms of the new loan program are expected to be stricter than the existing standby agreements, sources said.