IMF to release $510 million to Pakistan under EFF

Government of PakistanIMF to release $510 million to Pakistan under EFF

DUBAI: Pakistan and International Monetary Fund (IMF) Thursday successfully completed the 11th review of Extended Fund Facility (EFF) for release of $510 million to Pakistan by the fund board.

Talking to media persons after successful review, Finance Minister Senator Muhammad Ishaq Dar said that the talks had been successful.

He said that the economic indicators had been positive and Pakistan also succeeded in scaling down the fiscal deficit.

Dar informed that Pakistan would set an ambitious growth target of six percent during the upcoming financial year (2016-17).

He said that due to low cotton production, the country might somehow miss the growth target, but he expressed the hope that 5 percent target would be achieved.

The minister said that the country achieved 4.2 percent growth in 2015 which was highest in last seven years.

He said that by overcoming the challenges of security and energy, the country’s economy has the potential to grow at seven percent adding that the government was working to improve these conditions to further consolidate the economy.

The minister said that the revenue collection have been increased by 50 percent during the last three years. He said that 19 percent growth was recorded during the first three quarters of current year.

He said that it was after fifteen years that the stock exchanges of the county were merged this year to form Pakistan Stock Exchange (PSX).

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

Must read

Recent News

Moscow says it won’t allow US to silence UNSC on Israeli violence against Palestinians Monitoring Desk: Russian envoy in United Nations Vasily Nebenzya said that the UN Security Council should bring peace, stability and prosperity to the Middle East and Russia would not allow United States to silence UNSC over the issue of Gaza crisis. According to TASS news Agency, Nebenzya said that Moscow will continue to call for an end to violence against Palestinians and will not allow the US to muzzle the UN Security Council as Washington seeks to support Israel's operation in Gaza. "We will continue to stand firmly for ending violence against the Palestinians. Without a shadow of a doubt, we will continue to expose the abuses and sanctimony with which the US is handling the situation. We will not allow the Americans to gag the entire council with their hands in an effort to encourage further continuation of Israel's ruthless operation," he said in a speech at the Security Council.

Moscow won’t allow the US to silence the UNSC on Israeli violence against Palestinians

0
Monitoring Desk: Russian envoy to the United Nations Vasily Nebenzya said that the UN Security Council should bring peace, stability, and prosperity to the...

From Valdai to Margalla Dialogue —- All roads to Civilisations go through Islamabad

0
By Shazia Anwer CheemaThe emergent realities of global security are fundamentally transforming the frame of references and trajectorial approaches toward them. New security architecture...

12 more men in uniform embraced martyrdom for the motherland in Pakistan

0
Monitoring Desk: 12 more men in uniform embraced martyrdom for the motherland in Pakistan, said Inter Service Public Relations (ISPR) of the Pakistan Army.On...
Dr. Attia Anwar

Lifelong learning

0
By Dr. Attia AnwarAs we age, our minds and mental health become more important. We should try to maintain and improve them. Education is...
12th Defense Expo 'Ideas 2024' 'Weapons for Peace' a major step in defense diplomacy

12th Defense Expo ‘Ideas 2024’ ‘Weapons for Peace’ a major step in defense diplomacy

0
By Asghar Ali MubarakIdeas 2024, the global exhibition of defense equipment, will begin today at the Karachi Expo Center on November 19, in which...
Advertisement