ISLAMABAD: The International Monetary Fund (IMF) has finally agreed to pay $5.3 billion loan to Pakistan.
Sources said that the breakthrough on fresh installment was made during policy-level talks held on Monday in Islamabad.
The Pakistan team was led by Finance Minister Ishaq Dar while IMF’s Jeffrey Frank led his mission. Pakistan will formally file the loan application today.
Spokesman to the Finance Ministry claimed that Pakistan has addressed IMF’s reservations over energy sectors and taxation targets.
The authorities assured IMF that tax net would be expended and subsidies in power sector would be reduced gradually during the new fiscal year.