Shaukat Tarin shares IMF conditions for release of US$6 bn loan tranche

ISLAMABAD: Adviser to Prime Minister on Revenue and Finance Shaukat Tarin on Tuesday said that a deal with the International Monetary Fund (IMF) for the release of another tranche of a US$6 billion loan will be made soon, ARY NEWS reported.

In an informal discussion with the journalists, Shaukat Tarin shared that the IMF has demanded to fulfill five major conditions before the release of the tranche.

“They include elimination of tax amnesty and autonomy of the State Bank of Pakistan (SBP),” he said adding that another demand of hiking fuel prices has already been fulfilled.

The minister further said that bills pertaining to lifting tax exemptions and autonomy of the SBP are also being drafted and would be tabled before the Parliament for approval.

He further shared that managing currency rates and monetary policy are already under the domain of the SBP.

On November 01, Shaukat Tarin confirmed that Pakistan would sign an agreement with the International Monetary Fund (IMF) for the resumption of a $6 billion loan facility that would bring 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 interacting with media in Islamabad, here today.