Pakistan successfully negotiates next installment with IMF
Pakistan would achieve its target of 5.5% growth in economic development for the current fiscal year
ISLAMABAD (Dunya News) – Federal Finance Minister Ishaq Dar has said that Pakistan has successfully negotiated next installment with International Monetary Fund (IMF), reported Dunya News.
Talking at a press conference along with IMF mission chief Herald Finger, Dar assured that Pakistan would achieve its target of 5.5% growth in economic development for the current fiscal year. On the other hand, IMF believes that economic growth would be at 4.5 %.
IMF has been told about the reasons of delay in privatisation, said Dar. He further said that Pakistan has gained the trust of IMF regarding Rs 20 billion subsidisation issue of textile package, Kissan package and fertilizers. Fiscal deficit can reach up to Rs 23 billion due to reduction in income tax, he added.
“Power transmission losses have been limited to Rs 26 billion from July to October. In the current month, Pakistan is also expecting Rs 400 million from World Bank”, said Dar.
Highlighting the challenges faced by Pakistan, IMF mission chief Herald Finger remarked that timely achievement of economic goals and resolution of energy crisis would be a significant task for the country.
