ISLAMABAD: The International Monetary Fund (IMF) experts have sought time to review the steps taken by Islamabad before signing a staff-level agreement with Pakistan for the 9th review of the loan program, ARY News reported on Tuesday, citing sources.
According to ARY News, IMF experts have asked for more time for finalisation of staff-level agreements with Pakistan. Pakistan has sent the Memorandum of Economic And Financial Policies to the IMF along with the answers of 9 tables۔
Sources say IMF experts have asked for time to examine the MEPP and will need some time to check 9 tables of MEFP. Experts from the global financial institution will review the additional financing requirements in the MEPP.
Read more: Govt increases petroleum levy to placate IMF
According to sources, Pakistan has met 90 percent conditions for the staff-level agreement with IMF.
Sources said that Pakistan has also abolished the scheme to bring $0.1 million to the country annually and the interest rate has been increased by one percent. The basic interest rate has been hiked from 21 percent to 22 percent.
