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$497 tranche for Pakistan approved by IMF

ISLAMABAD: The International Monetary Fund (IMF) on Thursday approved $497 million tranche for Pakistan after the review of a bailout package started in 2013.

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“After constructive discussions, the mission and the Pakistani authorities have reached stafflevel agreement on the completion of the tenth review under the EFF (Extended Fund Facility) arrangement,”  IMF said in a statement.

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Speaking to media, Finance Minister Ishaq Dar alongwith IMF Mission Chief Harald Finger affirmed the government’s stance to convert public ograniztions into money-making enterprises.

The ministry of finance refuted reports that IMD official were unsatisfied at Pakistan’s progress on privatisation initiatives, ‘The Reuters story is not true, we are sorry to see them carrying the story,” said the secretary of finance.

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