ISLAMABAD – Pakistani government and IMF officials reached a staff-level agreement on policies to be supported by a Stand-By Arrangement (SBA), however the staff-level agreement needs final nod from Funds Executive Board, which is due on July 12.
The lenders’ board is set to meet on July 12, and the first tranche loan of $1.1billion will be disbursed to crisis-hit nation as the country of nearly 250 million is on its knees due to worst debt crisis in recent times.
Ahead of board meeting, Sharif led government need to notify a hike in gas sale price by up to 50 percent and power tariff by Rs4 per unit.
The surge in electricity and gas prices will help South Asian nation get the $3 billion programme under the Stand-By Arrangement (SBA).
National power regulator is expected to announce rebase tariff determination, which will be effective from this month.
https://en.dailypakistan.com.pk/30-Jun-2023/imf-reaches-staff-level-agreement-with-pakistan-on-dollar-3-billion-loan-tranche
