ISLAMABAD: After the approval of the bills by the Parliament, an agreement was reached between Pakistan and the IMF on issues to bring the program on track.
Completion of the IMF program restoration and economic review as soon as the implementation of the laws passed by the joint sitting of Parliament on the implementation of the preconditions attached to the IMF (International Monetary Fund) program begins. An announcement is expected.
Sources said that after the passage of other laws including SBP and SECP in the joint sitting of Parliament, they have been sent to the President for signature and it is expected that soon after the signatures of the President, the law will come into force. And formal notifications will be issued in this regard.
Sources said that the talks between Pakistan and the IMF had been completed and a few days ago the IMF had informed the Pakistani authorities about the precautionary measures to get the program back on track. Important bills have been passed in the joint sitting.
Sources said that a formal announcement is expected by the IMF today or next month on the implementation of other important legislation by the government, including those related to the SBP, after which the IMF board will send a letter to Pakistan. Therefore, the economic review will be approved and Pakistan is likely to receive the next tranche of the loan from the IMF.
Once the program is on track with the IMF, it will also receive funding from the World Bank and the Asian Development Bank.