IMF approves 3rd tranche of $545m to Pakistan
10 February, 2014
DUBAI: International Monetary Fund has approved the third tranche of five hundred forty five million dollars to Pakistan under the six point six billion dollars Extended Fund Facility.
This was stated by the head of IMF Mission Jeffery Franks while addressing a joint news conference after a meeting with Finance Minister Ishaq Dar in Dubai.
Frank said both the parties have reached the loan agreement. He said Pakistani economy is moving towards the set objectives. He said the economic growth has increased from 2.8 to 3.1 percent.
Finance Minister Ishaq Dar on this occasion said our economy is on the right track and the government is taking a number of steps for further improvement.
He pledged to add four thousand five hundred megawatts electricity to the national grid in next four years. He said the government is providing electricity to industry despite its shortage and subsidy is also being given for the provision of cheap electricity to consumers.
The Finance Minister said electricity distribution companies are being made efficient to overcome line losses. He said the government has ended unannounced load shedding and has approved energy policy to increase its production.
Ishaq Dar said legislation is being made to stop pilferage of electricity and gas.