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The Staff Level Agreement (SLA) between Pakistan and the International Monetary Fund (IMF) will not be signed until the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) confirm their financial support, local media reported.
The staff-level agreement will be signed with the IMF once it receives confirmation of support from Saudi Arabia and the UAE, according to media reports citing sources.
It further said concerns with the IMF would be resolved soon after Finance Minister Ishaq Dar assured diplomats at an iftar dinner in Islamabad on Sunday.
The IMF-Pakistan review talks concluded in Islamabad on February 9, and although almost 46 days had passed, the finance minister announced the next day that virtual talks had begun and a staff-level agreement would be signed soon.
Due to the timing of the release, there was disagreement within Treasury on the issue of cross-fuel subsidies. How the ministry will meet international lenders’ demands for subsidies remains unknown.
They are currently unaware of any developments on the controversial issue of cross-fuel subsidies, the report said.
The deadline for the tenth review is February 3 this year. With the 11th review scheduled for May 3, it’s unclear how the parties will move forward with the program’s resumption.
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