Agreement to be signed with IMF this week: Shaukat Tarin

ISLAMABAD: Adviser to Prime Minister on Revenue and Finance, Shaukat Tarin on Monday confirmed that Pakistan to sign agreement with the International Monetary Fund (IMF) for the resumption of a $6 billion loan facility that would bring an immediate relief to the cash-starved government by delivering a suspended tranche of $1bn.

“Matters with the fund are settled and agreement will be signed in the current week,” he was quoted as saying while interaction with media in Islamabad, here today.

He said for changes regarding laws about State Bank of Pakistan (SBP), the PTI government needs two third majority, which is not available. “We have tried to make IMF understand this issue.”

Regarding recent cyber attacks on the National Bank of Pakistan (NBP) system, Shaukat Tarin said that salaries of the government employees will not be late as the situation is under control right now.

Read more: Talks with IMF moving in positive direction: SBP governor

He feared more cyber attacks after Federal Board of Revenue (FBR) and NBP.  Sharing his views on the increasing inflation in the country, the adviser said target subsidy is being given to control over the problem as inflation is an international issue.

Shaukat Tarin avoided a question about the recent statement of SBP Governor Reza Baqir about depreciation of PKR against the US dollar befitted overseas Pakistani by saying that the SBP governor will respond on the issue himself.

Earlier, rejecting the impression of Pakistan-International Monetary Fund (IMF) talks failure, Finance Adviser Shaukat Tarin had asked the nation not to lose hope.