Pak to get 3rd IMF tranche of $1.2 bln by mid-Dec: Tarin

Original Content.Thnewspk.com ISLAMABAD: Minister for Finance Shaukat Tarinsaid on Thursday that negotiations with the International Monetary Fund for third tranche under Standby Arrangements have been completed and the IMF board would approve US $ 1.2 billion for release to Pakistan by the middle of next month. The Minister said that the IMF reviewed the economic performance of Pakistan in the first quarter of the current financial year and expressed its satisfaction over Pakistan’’s economic performance during the period. He termed the talks with IMF as productive and positive, adding that Pakistan was on board in terms of its economic targets including the set target of the budget deficit

Original Content.Thnewspk.com

ISLAMABAD: Minister for Finance Shaukat Tarinsaid on Thursday that negotiations with the International Monetary Fund for third tranche under Standby Arrangements have been completed and the IMF board would approve US $ 1.2 billion for release to Pakistan by the middle of next month.

The Minister said that the IMF reviewed the economic performance of Pakistan in the first quarter of the current financial year and expressed its satisfaction over Pakistan’’s economic performance during the period.

He termed the talks with IMF as productive and positive, adding that Pakistan was on board in terms of its economic targets including the set target of the budget deficit. Shaukat Tarin said that economic stabilization programme of the country is moving in the right direction to achieve its desired results.

However, he said risks are there in the world economies and Pakistan was no exception. Replying to a question, he said that the government was to increase the electricity tariff by 6 percent but it was increased by 4 percent. There would be no further increase in the electricity charges but only adjustments would be made in the rates, he added.

He said the Fund has some reservations which are being removed and expressed the hope that the third tranche of US $ 1.2billion would be released by mid December.