The International Monetary Fund (IMF) has imposed one more condition for Pakistan’s loan agreement renewal.
According to sources, after implementing all the preconditions, the Pakistani authorities are facing one more condition and the IMF has demanded that the financing countries provide written assurances by June 30.
The IMF demanded that Saudi Arabia, Qatar and the United Arab Emirates provide written assurances.
The Pakistani government has mobilized to get written assurances from all three countries and the Finance Ministry as well as the Prime Minister’s Office are active.
Sources said that the Pakistani authorities are hopeful of getting written assurances soon, that Pakistan has completed the implementation of all pre-conditions.
According to sources, the last condition of the IMF was not to take loans directly from commercial banks, which Pakistan has agreed to.
Sources say Pakistan and IMF officials have also completed negotiations on the revised MEFP and Pakistan wants the staff-level agreement to be approved at the executive board meeting in spring.