Prime Minister Shehbaz Sharif on Wednesday commended his team for unlocking the new $1.3 billion arrangement with the International Monetary Fund (IMF), along with a successful first review of the ongoing 37-month bailout programme.

The announcement from the global money lender came early Wednesday morning, saying that it had reached a staff-level agreement (SLA) with the Pakistani authorities.

Speaking at a federal cabinet meeting today, the premier thanked the members of his team, saying it was through “day and night” efforts that led to the achievement of this milestone.

“This was through teamwork, no doubt,” he said, adding that some had questioned whether the government would be able to achieve the feat without the mini-budget.

“With God’s grace, the mini-budget did not come,” he said, adding that despite challenging circumstances, with terrorism prevalent in two provinces and inflation reaching historic highs amid other problems, the government as well as the nation persevered.

“Particularly, the common people who faced difficulties, if their sacrifices weren’t there, the staff-level [agreement] would not have been possible as they face the burden of inflation,” he stressed and said that the salaried class and the provinces contributed to the milestone.

He went on to commend the provinces for passing the tax laws to meet the requirements of the Fund amid reluctance and concerns.

In February, in a rare show of unity, the Sindh provincial assembly had unanimously passed the Sindh Agricultural Income Tax Bill. Punjab and Khyber Pakhtunkhwa had already

© Dawn Business