Pakistan, Oct. 11 -- ISLAMABAD - Virtual negotiations between Pakistan and the International Monetary Fund (IMF) are underway as both sides work to finalize a staff-level agreement, with talks currently centered on four key reform areas, sources said on Saturday.

According to officials from the Ministry of Finance, provincial governments have requested more time to implement the agricultural income tax, citing the severe impact of recent floods on the agricultural sector. Provinces argue that immediate enforcement of the tax would further strain farmers already hit by heavy losses.

Read More: Federal Government Waives August Power Bills for Flood Areas

The IMF has also sought to include Pakistan's wheat procurement policy in the Memora...