Islamabad: Pakistan has accepted another IMF precondition for the loan tranche.
According to Express News, Pakistan has agreed to increase the policy rate (interest rate) with the IMF. In this regard, Finance Ministry sources say that a technical level discussion has taken place between Pakistan and the IMF review mission in virtual talks in which Pakistan has agreed to increase the policy rate.
According to the sources, it is expected that Pakistan will increase the policy rate (interest rate) by two percent. Sources say that most of the preliminary steps of the IMF have been completed, there are some matters on the issue of power sector which is in the final stage and it is expected that there will be progress soon and matters in this regard will be settled. After that, a staff agreement will be signed with the IMF.
Sources say that Pakistan has also given a detailed briefing to IMF officials on sources of foreign exchange till June. The installment will be sent to the IMF Board for approval.
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