ISLAMABAD: Pakistan will get three billion dollars in three installments from the International Monetary Fund (IMF), sources said.

A second review under the standby arrangement will take place in September 2023, they said.

The third review talks between Pakistan and IMF will be held in December this year, they added.

Pakistan has identified the priority points and now it will implement them.

For reforms in the electricity and gas sector, steps would be taken to reduce losses, sources said and added that electricity and gas prices would be increased.

Pakistan has been assured of external financing of 6 billion dollars during this fiscal year, they maintained, adding that Pakistan will get the first tranche of $1.1 billion after the IMF board meeting.

The market will determine the exchange rate under the IMF Staff Level Agreement, the sources said and added that sanction of supplementary grant will not be allowed after the budget.