Abb Takk News

Pakistan to receive final tranche of IMF loan in last week of August

International monetary Fund (IMF) has cleared payment of three years loan program to Pakistan in twelfth session held here at Dubai .

A final $102 million tranche in a $6.4 billion three-year program has been approved in the Pakistan and IMF meeting held at Dubai attended by Finance minister Ishaq Dar and IMF officials.

Addressing to a joint news briefing, after the end of the meeting with IMF mission head Herald Finger, The finance Minister Ishaq Dar said that Pakistan’s economy showed satisfactory performance, however the target of budget deficit and net domestic assets could not be reached.

” Budget deficit reeling at 4.6  per cent against target of 4.3,” he added that the target to distribute Benzier Income Support Program funds to poor people and recovery of power bills have been achieved.

He underline that reforms in power field one of the main priority of the government. He  ” The tax collection exceeded from target as last fiscal year FBR has set target of 3104 but recovered 3115 more than the target.”

” Government has set the GDP target of  5.7 and the foreign reserves have reached at 23 billion dollar,” he added that reform procedure being underway in finance as government is working to curtail the deficit of state owned organizations.