IMF recognizes improvement in Pakistan's economy
ISLAMABAD: Acknowledge the improvement in Pakistan’s economy, International Monetary Fund (IMF) expressed concerns over the hiking inflation, ARY News reported on Saturday.
IMF officials addressing a joint press conference with Federal Finance Minister Ishaq Dar on Saturday advised finance ministry to design such a monetary police that control the inflation without affecting the economic progress of Pakistan.
“Pakistan's economic indicators are positive but there still are some challenges where Pakistan needs to work”, said IMF official.
IMF will submit a report to the Board of Directors after the third review of the IMF programme to Pakistan and following the board approval, IMF will consider to release next tranche of $550 million to Pakistan.
Speaking on the occasion, Ishaq Dar said inflation during the first 10 months of this financial year remained 8.7 per cent.
“Inflation will come down to 5-6 per cent”, the Minister added.
Ishaq Dar said IMF has also recognized improvement in balance of payment position. He said Federal Board of Revenue collected 1,745 billion rupees in first 10 months of this financial year and expressed hope that the revenue target will be achieved.