Pakistan is poised to finalise a staff-level agreement with the International Monetary Fund (IMF) this week.
The anticipated agreement with the IMF is expected to pave the way for Pakistan to receive the final installment of $1.1 billion under the SBA agreement.
Additionally, it has been reported that Pakistani officials, in discussions with the IMF, have pledged to implement an increase in electricity tariffs effective July 1. Moreover, consumers will bear periodic fuel adjustments on a monthly, quarterly, and annual basis for cost recovery purposes.
Highlighting the imperative of safeguarding beneficiaries enrolled in the BISP programme, the IMF delegation emphasised to Pakistani authorities the importance of maintaining stringent monetary policies and stable market exchange rates.
The ongoing visit of the IMF delegation to Pakistan pertains to the second review under the SBA loan programme.
In an earlier development, sources revealed that the Pakistani government rebuffed the IMF’s request to revisit the National Finance Commission (NFC) Award.
The IMF had urged Islamabad to reconsider the NFC Award allocation with the provinces during the second review talks within the framework of the $3 billion loan programme under the SBA, citing a shortfall in federal funds.
