Pakistan, IMF likely to sign staff level agreement today

Islamabad: Pakistan and International Monetary Fund (IMF) are likely to sign staff level agreement today (Tuesday) as the deadlock between the government and the international organization has been resolved, GNN reported.

According to details, the acting president Sadiq Sanjrani signed the Finance Bill 2023 that led to the approval of budget 2023-24.

The agreement has entered the final stages as the deadlock between government and IMF has been resolved.

The scheme to bring Rso.1 million dollar to Pakistan following the IMF condition has also been dismissed, whereas the interest rate has also been raised by 1%.

Tax income has been increased Rs215 billion to settle at Rs9,415 billion. Government has assured to implement to condition of IMF to increase levy to rise the non-tax income.

IMF acknowledged the Pakistan’s efforts to implement the strict economic policies. Sources told that government has sent the Memorandum of Economics and Financial Policies (MEFP) to the IMF. Now its financial experts’ team will review the MEFP.

Pakistan and IMF will have staff level agreement in which federal finance minister Ishaq Dar will play an important role.