ISLAMABAD: Speaking at a ceremony in Islamabad‚ Finance Minister Muhammad Ishaq Dar said the issue of adjustment of rupee-dollar parity was not even discussed with the International Monetary Fund (IMF).
Ishaq Dar said the government has set a target to increase GDP growth to around 7 percent‚ foreign exchange reserves to around 20 billion dollars. He said the government plans to reduce fiscal deficit by 4 percent and bring public debt down to 57.5 percent of the GDP by 2016.
Meanwhile‚ Islamic Development Bank (IDB) has assured to provide additional eight hundred and fifty million dollars to Pakistan over the next three years.
The assurance was given by Vice President of the Bank Birama Doubacar Sidibe at a meeting with Finance Minister Muhammad Ishaq Dar in Islamabad.
IDB Vice President said the bank will provide every possible support to Pakistan for the implementation of plans and priorities set by the new government.
The Finance Minister thanked the IDB for agreeing to provide a loan of 750 million euros and a trade facility of 150 million euros to help Pakistan meet its foreign exchange needs.
