Talks with IMF start for $450m tranche

By Asghar Ali Mubarak

ISLAMABAD: The International Monetary Fund (IMF) staff mission has started discussion here with the government authorities to review Pakistan’s performance under its US $6 billion Extended Fund Facility (EFF). Advisor to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh informed media persons here outside his office on Monday.
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 next month.
Under the 39 month IMF extended fund facility, Pakistan has already received $1.44 billion in two installments.
During its stay in Pakistan, the IMF team will review performance of various ministries and departments besides reviewing the energy and tax reforms. Talking to media persons, Hafeez Shaikh said that inflation rate in the country would start receding soon which would gradually come down to comfortable level.
The advisor said the federal government had taken a number of initiatives to bring down prices of various commodities.