IMF Pakistan reach $3bn staff-level agreement

IMF, Pakistan, reach $3bn, staff-level agreement,

ISLAMABAD: International Monetary Fund (IMF) on Friday, announced that a “Stand-By Arrangement” between the global money lender with Pakistan has been reached successfully, ARY News reported.

According to the details, a staff-level agreement has been concluded between Pakistan and the IMF, valuing $3 billion for 9 months.

IMF Mission Chief Nathan Porter along with his team maintained continuous communication with Pakistani authorities and completed the agreement through virtual negotiation.

Regarding the agreement, IMF Mission Chief Nathan Porter has said that the staff-level agreement with Pakistan has been made under a Stand-By Arrangement for 9 months.

READ: Pakistan ‘hopeful’ of IMF deal as loan programme set to expire tomorrow

The final approval of this agreement will be given by the IMF’s executive board, which is expected to take place in mid-July. After this approval, Pakistan can receive a loan of $3 billion.

Nathan Porter further stated that Pakistan’s parliament played an important role in achieving economic goals and took significant steps to increase tax revenues. The parliament has increased funds for Benazir Income Support Program and limited exemptions in taxes.

IMF Mission Chief stated that the increase in tax revenues can result in a primary surplus of 0.4 per cent for Pakistan’s economy and the additional funds generated through increased tax revenues can be allocated to social sectors.



from Latest Pakistan News and Breaking News from All over Pakistan https://ift.tt/1HwpdYL

Comments

Post a Comment

Popular posts from this blog

Texas shooting claims five lives, armed suspect on the loose

Image
 A man shot dead five neighbors including an 8-year-old boy after some of them had asked him to stop shooting a semiautomatic rifle in his front yard in Cleveland, Texas, because it was keeping their baby awake, police said on Saturday. Police were still looking for the suspect, who used an AR-15-style rifle in the shooting late inside the neighbors’ home on Friday, San Jacinto County Sheriff Greg Capers said. Sheriffs deputies were joined by FBI agents as they continued searching for the suspect, Francisco Oropeza, 38, in a nearby wooded area 18 hours after the attack, Capers said. “We are tracking him with dogs and men on horseback and drones in the air,” Capers said. Law enforcement had found an abandoned cellphone and some discarded clothing in the search area, Capers said. He was quoted as saying by other news outlets that all the victims were shot in the head “almost execution-style.” Police said all five victims were from Honduras. Officials from Capers’ office received a
Read more

DSP, gunman martyred in Lakki Marwat attack

Image
LAKKI MARWAT: Deputy Superintendent of Police (DSP), Gul Muhammad Khan and his gunman were martyred in an attack in Lakki Marwat in Khyber Pakhtunkhwa late Friday night. According to details, DSP Gul Muhammad Khan was on routine patrol on Manjiwala Road in Lakki Marwat when some unidentified assailants opened fire on police van due to which DSP Gul Muhammad Khan and his gunman were critically wounded. They were rushed to Tehsil Headquarters (THQ) Hospital Norang where both of them died during treatment. A heavy contingent of police reached the spot after the incident and cordoned off the area. Police have also launched a search operation in the area to arrest the culprits. Read more: CTD, police kills three terrorist in Lakki Marwat Earlier, the Counter-Terrorism Department (CTD) and Bannu police killed three terrorists affiliated with a banned outfit during an intelligence-based operation (IBO) in Ghazni Khel area of Lucky Marwat. The CTD spokesperson stated that an intelligen
Read more

Illegal immigrants involved in serious crimes in Karachi: Police chief

Image
KARACHI: Karachi police chief on Wednesday claimed that the illegal Afghan immigrants were involved in some heinous criminal activities in the metropolis, ARY News reported. During an exclusive interview with ARY News, the Karachi police chief – Khadim Hussain Rind – asserted that more than 43,000 illegal Afghan immigrants, involved in activities such as street crimes and house robberies in the city, were deported. “After the cleanup operation against illegal aliens the crime ratio in the city cut off by 4.9 percent,” he maintained. The city police chief stated that a crackdown against drug dealers was also conducted in Karachi. While responding to a question, Rind stated that a plan is being cooked regarding the security of PSL. from Latest Pakistan News and Breaking News from All over Pakistan https://ift.tt/zu8qS3r
Read more