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Pakistan and the International Monetary Fund (IMF) remained unsuccessful in reaching a staff-level agreement yet again owing to point of conflicts over the macroeconomic framework as well as the aggravating uncertainty over the future economic outlook.

Read: Phase-1 of state cadastral mapping complete

The new round of talks commenced on October 4 in Islamabad and ended on October 15 in Washington. This is the second time both the parties have held a round of talks pertaining to the release of the $1 billion loan tranche, however, receiving a good economic health certificate remained inconclusive. The first round of talks was held in June but they had been unsuccessful as well.

The talks failed even though Pakistan has already implemented a prior condition of raising electricity and petroleum products prices. It must be noted that both sides have shown resolve to remain engaged.

Read: Pakistan Railways plans to connect KCR with BRT lines

Pakistan has already accepted two conditions put forth by the IMF. The government has raised power tariffs by Rs 1.68 per unit or up to 14% while increasing the petroleum products prices to a new historical level of Rs 137.79 per litre.

Tarin said although the IMF wanted the cost of fuel to be passed on to the consumers, the government only increased prices by Rs 10 per litre.

The federal government on Saturday spiked petrol prices by Rs 10.49 per litre and high-speed diesel (HSD) by Rs 12.44 per litre to Rs 135.

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