Friday, 03 September 2010
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Pakistan-IMF talks tomorrow
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Release of IMF's $1.2bn tranche to Pakistan
ISLAMABAD: Government's delegation is all set to visit Dubai for holding talks with the International Monetary Fund (IMF) for the disbursement of fifth tranche of its loan worth $1.2 billion to Pakistan.
The talks will be held from February 10 to February 16, 2010. A World Bank delegation did not agree to hold the talks in Islamabad due to critical security situation after the bomb blasts in Karachi and other parts of the country.
Therefore, Finance Minister Shaukat Tarin, Federal Secretary Suleman Siddique, Special Secretary Asif Bajwa, Governor State Bank Syed Salim Raza, Chairman FBR Sohail Ahmad and Director Tax Israr Rauf will reach Dubai on February 9 (today).
The delegation of the World Bank and the IMF will review financial and economic performance of the government in the first six months of FY10. The delegation will also review the targets in connection with the recovery of taxes by the FBR, prices of gas, electricity and petroleum and devaluation of rupee.
The Pakistani delegation would reply to questions being raised regarding the economic performance of the government. According to sources, though the Finance Ministry failed to meet the target of controlling expenditure, the recovery of taxes on behalf of the FBR was quite satisfactory. In case the talks are successful, IMF would disburse the fifth tranche of $1.2 billion.-Online
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