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Pakistan to receive $2.77 billion from IMF on Aug 23: Tarin

Dunya News

Shaukat Tarin said that it was unconditional allocations from the IMF

ISLAMABAD (Dunya News) – Federal Minister for Finance and Revenue, Shukat Tarin said Thursday that Pakistan would get $2.77 billion on August 23 from International Monetary Fund’s (IMF) general allocations of $650 billion it had approved to boost global liquidity amid coronavirus pandemic across the globe.

Addressing a press conference on Thursday, he said that the Fund would directly transfer the amount to the State Bank of Pakistan (PBS), which he said would help further improve the country’s foreign exchange reserves, hence have very good impact on economy.

The minister said that it was unconditional allocations from the IMF which he said would be used in a productivity way. He said that Pakistan had been already working on reform programme to bring stability and sustainability under the IMF programme.

He said that the measures taken by the government had been bearing fruits as was shown by the growth in revenue collection adding that the increase in revenues was indicative of economic growth.

Tarin thanked the IMF the measure to promote global liquidity, particularly in those countries which have been facing challenges amid Covid-19 pandemic.

Kamyab Pakistan Programme 

Earlier, Finance Minister Shaukat Tareen briefed Prime Minister Imran Khan about the progress on Kamyab Pakistan programme.

Prime Minister Imran Khan said the Kamyab Pakistan programme would generate employment opportunities for youth and facilitate the farmers in the country.

Imran Khan expressed satisfaction over the Kamyab Pakistan Programme, saying that this was the first project of its kind in the country’s history which would help people to get employment, own a house and get agricultural machinery.

The Kamyab Pakistan programme will not only provide employment to the youth through installment loans, but will also provide loans to the middle class for their accommodation.

In addition, financial assistance to farmers, including loans for acquisition of modern technology and machinery, will enable significant growth in the agricultural sector.