Finance Adviser Mirza Azizul Islam said the government will scrutinise conditions and make it public before finalising any new deal with International Monetary Fund (IMF).

"If the IMF proposes any new package deal to Bangladesh, the government will make the final decision after examining conditions behind the deal," said Finance Adviser Mirza Azizul Islam after his final meeting with visiting IMF mission yesterday.

The visiting IMF mission led by Thomas Rumbaugh, adviser of Asia and Pacific IMF departments, came to Dhaka last week and discussed with the adviser yesterday at the Ministry of Planning.

After the meeting the adviser briefed the journalists about the discussion.

The adviser said the IMF is yet to offer any new deal to Bangladesh. The IMF may offer new deal after assessing Bangladesh's present economic situation, he said.

If IMF offers new package deal in financial or any other form in near future, the government will review it before making any decision and if there is any condition that goes against national interest, the government will not sign the deal, he said.

"I cannot make any promise that I will not deliver," the adviser said.

Aziz said at this moment, the government will not go for any package deal with IMF. In case of any such package deal, transparency will be ensured and conditions behind the deal will be made public.

The government does not follow tight monetary policy at this time and there is not any pressure from the IMF to follow the policy, he said.

He said price hike in international market is the reason behind surging prices of essential commodities in the local market.

There is no relation between tight monetary policy and inflation and therefore it is not necessary to follow contractionary monetary policy at this moment, he said.

During the meeting IMF representatives expressed their concern over achieving the high revenue target fixed for the current fiscal year, the adviser told the journalists.

Replying to question on IMF's view, he said this is not the proper time to comment on achieving revenue target on the basis of only two months' statistics of the current fiscal year.

Expressing hope that the revenue target could be achieved at the end of the year, he said the IMF is interested to provide technical assistant for revenue sector reforms.

Thomas Rumbaugh said the discussion mainly focused on different range of options of the government regarding new arrangement.

"We have a comprehensive technical assistance programme. That's not well known in Bangladesh. But our view is that's the most important thing to help Bangladesh," he said, adding that IMF's team will visit Bangladesh in every three or two months and train up the government policy makers so that they can make better policy decision.

After expiry of IMF's Poverty Reduction Growth Facility (PRGF) programme in Bangladesh in last June, the IMF offered to Bangladesh choosing one of the three arrangements.

The IMF proposals include negotiation of a new PRGF programme, a staff monitored programme (SMP) and close consultation in the context of regular IMF surveillance supported by written assessment of macroeconomic performance when needed to catalyse donors' support, sources said.

In IMF's view, the first option is the best modality for further fund support, especially if in conjunction with a World Bank PRSC (Poverty Reduction Support Credit) programme.

An SMP involves no financing, the same level of conditionality as a PRGF, usually lasts for 6 to 18 months, and is designed primarily for countries that need to build a track record before they can access fund financing.

The third option is a good transition choice until a new PRGF programme can be negotiated and finalised, sources said.