Friday, March 31, 2023

IMF approves 6th tranche for Pakistan: Shaukat Tarin

Deputy Finance Minister Shaukat Tarin said on Thursday that the International Monetary Fund’s (IMF) approved the sixth tranche for Pakistan and that it will help to stabilize the country’s economy.

Shaukat Tarin said in a video statement that approval of the sixth tranche of the IMF’s loan to Pakistan is an indication that the international lender supports Pakistan’s economic development strategy.

The finance minister stated that, in response to Prime Minister Imran Khan’s visit to China, we will request that China relocate its manufacturing facilities to Pakistan. He stated that our Special Economic Zones are ready and that we would like China to establish industries in them, which would be beneficial to both nations.

Read Also: Imran Khan Travels to China to visit xi Jinping

Moreover, Tarin stated that Pakistan will seek Chinese assistance in the agricultural sector.

A loan of $1 billion for Pakistan was approved by the Executive Board of the International Monetary Fund (IMF) on Wednesday as part of the Extended Fund Facility (EFF).

Federal Minister for Finance and Revenue Shaukat Tarin confirmed this in a post shared on his official Twitter account, which can be found here.

In Washington, the Executive Board of the International Monetary Fund (IMF) met for the sixth review of Pakistan’s economy, which was conducted by the IMF.

Read Also: IMF Executive Board to Hold Sixth Review of Pakistan’s Economy Today

It is important to note that the next review (the seventh) under the $6 billion EFF program will be due in April 2022.

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