The Executive Board of the International Monetary Fund is due to meet on Dec. 18 to discuss the ninth review under the Extended Fund Facility arrangement with Pakistan and is expected to approve the release of $502 million loan tranche.
Pakistan achieved the staff-level agreement with the IMF officials following talks between the IMF officials and the Pakistani delegation led by Finance Minister Ishaq Dar held in Dubai between Oct 28-Nov 5.
The loan is being granted on condition that Pakistan carry out extensive economic reforms, particularly in the energy and taxation sectors.
To qualify the latest IMF loan tranche, the government aims to raise $535 million in new taxes to meet IMF targets.
Earlier, the IMF planned the release in December of a US $ 502 million tranche of Pakistan‘s three-year US$ 6.68 billion programme, even though the government missed targets for tax revenue generation, net domestic assets and the budget deficit.
