Lahore: Pakistan Finance Minister Ishaq Dar on Tuesday (January 31) expressed his confidence in the success of the 9th review for the release of loan tranche by the International Monetary Fund (IMF) under the Extended Fund Facility (EFF), news sources reported.
He said that the government is ready to take measures necessary to fulfill the conditions related to the resumption of the IMF agreement and the release of EFF tranche in the coming days. He said this in a meeting with the delegate of IMF headed by Nathan Porter.
Moreover, Finance Minister Dar said that the government is taking measures for changes in energy policies, power production and structural reforms to reduce circular debt in the gas sector that will help increase resilience, external liquidity pressure handling and reduce the current account deficit (CAD).
It is important to note that Pakistan contracted the IMF for a USD 6.5 billion loan and was due to receive the next instalment following the 9th review two months ago. However, the IMF delayed the review citing pending structural reforms. If resumed, the government is expected to receive USD 3-4 billion from international lenders with more money coming from friendly countries to shore up the FOREX reserves that have reached USD 3.5 billion in total.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
