Pakistan kneels down before  IMF on loan conditions 


ISLAMABAD: Pakistan has assured International Monetary Funds for early privatization of those institutions that are running in deficit while IMF has approved $ 51 crore loan tranche for Pakistan.

As per details, 11th review meeting was held here at today in Dubai between Pakistan and IMF while Ishaq Dar led Pakistani delegation during the meeting. IMF delegation was headed by Herald Finger.

After the meeting, Ishaq Dar said in his statement that dialogues have succeeded between Pakistan and IMF and we have accepted all the conditions of IMF while IMF would issue $51 crore tranche in June.

Dar further added that we would succeed to achieve our tax targets at the end of this fiscal year while 5% increase is being expected in GDP during current fiscal year. Those institutions that are running in deficit would be privatized soon.

Rs. 2100 billion taxes have been received by government during this year while government would also succeed to achieve 4.5% growth rate target.

Tax targets have not been changed by government during this year while 6% GDP growth rate would be set up by government in next fiscal year. Dar elaborated

Talking about Pakistan Stock Exchange, Finance Minister explained that merger of three stock exchanges was done while its index has crossed 36 thousands points.