ISLAMABAD: Finance Minister Ishaq Dar said that government was working to find mechanism to get full $ 2.6 billion in pending finances under loan programme with International Monetary Fund (IMF).

Minister’s statement comes as Pakistan continues to negotiate with IMF for completion of ninth review of $ 6.5 billion Extended Fund Facility agreed in 2019 and release of $ 1.2 billion tranche.  With reserves at critical levels for past several months, Pakistan was expected to get around $ 1.2 billion from IMF in October last year. Just three days away from programme’s expiry on June 30, package’s ninth review is still in doldrums. Dar expressed optimism that an agreement would be reached with IMF for release of much-needed $ 1.2 billion tranche, pointing out that total $ 2.6 billionn was “Unspent” under programme. 

He said government was hoping and trying not just to get $ 1.2 billion pending funds due to non-completion of ninth review but also to find way out for release of entire pending amount of $ 2.6 billion.

Published in The Daily National Courier, June, 28 2023

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