Abb Takk News

Number Of Measures Taken To Check Inflation: Finance Adviser

ISLAMABAD: Adviser on Finance Hafeez Shaikh has said that a number of measures have been taken to check inflation.

Talking to the media persons in Islamabad on Monday, he said these included allowing the import of wheat and non-borrowing from the State Bank of Pakistan.

He mentioned that there was zero borrowing from the central bank during the first seven months of current fiscal year.

The Adviser said we have cut deficits and that the exchange rate stands stabilized.

The Adviser on Finance said the International Monetary Fund team has started discussion in Islamabad with the government authorities to review Pakistan’s performance under its 6 billion dollars Extended Fund Facility.

He said the team would continue talks with the Pakistan government economic team until February 14 and successful quarterly review would lead to release of third tranche of 450 million dollars next month.

Hafeez Shaikh said under the 39 month IMF Extended Fund Facility, Pakistan has already received 1.44 billion dollar in two installments.