IMF parleys conclude successfully, says Hafeez

News Desk Report
ISLAMABAD: Adviser to Prime Minister on Finance, Revenue and Economic Affairs Abdul Hafeez Shaikh Friday that International Monetary Fund (IMF) mission concluded successfully.
Taking to social networking website, Twitter, Hafeez Shaikh said, “IMF confirms that Pakistan met all first quarter performance Criteria by good margins.”
He said the IMF acknowledged that Pakistan’s economy continuing to get better owing to business friendly policies initiated by the incumbent government.
On the auspicious occasion, Hafeez Shaikh felicitated the Prime Minister Imran Khan and his entire team.
Earlier in the day, International Monetary Fund’s (IMF) first assessment of Pakistan’s economic progress had ended on a positive note, Pakistan to get second tranche of approved loan in December.
The second tranche of IMF loan designated for Pakistan, worth 450 million rupees will approximately be delivered to the country by the end of this year.
The IMF delegation had held elaborated dialogues with Pakistan officials over the economic situation of the country, whereas, the IMF mission will respond to the government over reviewing its financial targets of grabbing Rs5500 billion tax collection in the current fiscal year, sources had said.
Meanwhile, International Monetary Fund (IMF) and Asian Development Bank (ADB) officials called on Federal Minister for Power Omar Ayub in Islamabad on Friday, ARY News reported.
As per details, the meeting discussed matters related to circular debts. The officials of the power division briefed meeting about plans prepared on circular debts.
The officials expressed satisfaction over a plan presented by the power division on circular debts.
Earlier, Energy Minister Omar Ayub Khan said that measures are being considered to give relief to industrial and other consumers.
Addressing a news conference in Islamabad on Friday, he said electricity consumers were given a subsidy of 226 billion rupees in budget.
The Minister said a special subsidy was given to agricultural consumers using less than 300 units of electricity. He said a package of subsidized rates will also be introduced for domestic and commercial consumers.