Monday, October 3, 2022

IMF loan tranche will bring stability to economy: Shaukat Tarin

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ISLAMABAD: Finance Minister Shaukat Tarin Thursday said the approval of 6th tranche by the International Monetary Fund (IMF) is encouraging and it will bring stability to the country’s economy.

In a video statement, he said the approval of the sixth tranche of loan by IMF for Pakistan indicates that the international lender agrees to Pakistan’s economic strategy.

Regarding Prime Minister Imran Khan’s visit to China, the finance minister said we will ask China to relocate its industries to Pakistan. He said our Special Economic Zones are ready and we want China to establish industries there which will be a win-win for both countries.

Tarin said Pakistan will also seek Chinese cooperation in the agriculture sector.

Read more: IMF okays $1bn loan tranche for Pakistan

On Wednesday, the Executive Board of the International Monetary Fund (IMF)  approved $1billion loan for Pakistan under the Extended Fund Facility (EFF).

This was confirmed by Federal Minister for Finance and Revenue Shaukat Tarin in a post shared on his official Twitter handle.

A session of the International Monetary Fund (IMF) Executive Board for the 6th review of Pakistan’s economy was held in Washington.

It is pertinent to mention here that the next review (seventh) under the $6 billion EFF programme will be due in April 2022.

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