Despite the assurances from Saudi Arabia and the United Arab Emirates about external funds to Pakistan, the International Monetary Fund is asking Pakistan to ‘do more’ to unlock stalled loan programme.
The staff-level agreement between Pakistan and the International Monetary Fund is again ‘delayed’ as the international lender has put a new demand.
The meeting of Finance Secretary Hamid Yakoob in the US remained ‘unfruitful’ with the International Monetary Fund as the international lender has given the plan to arrange $1 billion from commercial banks to unlock the loan program.
The staff-level agreement was supposed to be signed on February 9 but had been delayed after then over IMF’s demands.
The sources further say that IMF also has objections to the petrol subsidy scheme.
Earlier, the International Monetary Fund welcomed the commitments made by Pakistan’s friendly countries to assist the cash-strapped South Asian country in reviving its months-long delayed $1.1 billion IMF loan tranche.
