After various rounds of negotiations with Pakistani authorities, the International Monetary Fund (IMF) was likely to sign the staff-level agreement with Pakistan next week, 24NewsHD TV channel reported on Saturday.

Finance Ministry’s official said that the staff level accord with IMF was expected on Monday or Tuesday which will clear the way for Pakistan to receive the last tranche of $1.1 billion under the standby agreement.

During various rounds of negotiations with officials of different departments which were held during March 15 and 16, the IMF team was assured by the government regarding hike in tariff prices while monthly, quarterly and yearly fuel adjustments will be slapped on consumers to curb circular debt. IMF was also assured that government will gradually documented the economy to increase tax revenue.

Moreover, IMF also stressed on ensuring protection of beneficiaries under BISP besides increasing the number of BISP beneficiaries by June 2024. IMF team also emphasized on necessary reforms for economic stability.

Furthermore, International Monetary Fund also demanded to keep strict monetary policy and market exchange rate.

Reporter: Waqas Azeem