Pakistan In Focus - Door left Ajar for IMF-Islamabad contract.

In a first serious challenge to keep the $6 billion extended fund facility on track, Pakistan and the International Monetary Fund on Friday could not reach a staff-level agreement on contentious issues but kept the doors open for the possibility of attaining one in coming days.

The issues that stopped both the parties from reaching an agreement include the need for a mini-budget, new tax collection target for the Federal Board of Revenue and hike in electricity prices.

The IMF mission remained engaged in hectic negotiations with Pakistani authorities for 11 days but returned to Washington without reaching a staff-level agreement.

"The mission and the authorities made significant progress in the discussions on policies and reforms. In the coming days progress will continue to pave the way for the IMF Executive Board's consideration of the review," according to a statement issued by the IMF at the conclusion of its mission's visit to Pakistan.

The IMF said that steadfast progress on programme implementation would pave the way...

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