Prime Minister Shehbaz Sharif confirmed a staff-level agreement with the International Monetary Fund for $1.2 billion disbursement and expressed hope that it would be the last such program for Pakistan.

Chairing a cabinet meeting on Thursday, he said the time has come “to free ourselves from the burden of debt”. Hard work is the first condition for national independence and dignity,” said Shehbaz, adding that Pakistan’s economic stability would strengthen its global voice and respect.

The IMF on Wednesday announced the agreement for the release of $1.2 billion next loan tranches after Islamabad, for now, agreed to the old pre-floods budget targets and to publish the governance report before the board meeting.

Upon approval by the board, Pakistan will have access to about $1 billion unde

See Full Page