Pak govts performance below mark: IMF

The IMF said that efforts should be sped up for restructuring infrastructure in the power sector.Addressing a joint news conference with Federal Minister for Finance Dr Abdul Hafeez Shakih, Assistant Director IMF Adnan Mazari on Saturday said that Pakistan was needed to bring down its budget deficit and more efforts be made in energy sector so that country can overcome its energy crises.He said that IMF could not afford provision of more funds in energy sector to Pakistan and added that efforts should be made for eradication of poverty and bringing investment in the country.However, dispelling the impression, Federal Minister for Finance Dr Abdul Hafeez Shaikh said that Pakistan had not requested the International Monetary Fund (IMF) for a fresh loan programme.He said that Pakistan enjoys strong relations with IMF and that the recent talks were held in a cordial atmosphere.Abdul Hafeez Shakih painted a rosy picture of the country’s economy and said that economy has shown better performance during the first four months of the current fiscal year 2011-12 and the trend is expected to continue during the rest of the year.He said that in a bid to ensure economic reforms agenda, the government was committed to finding solutions to the key constraints, being faced by the economy.He said that during first four months of current fiscal, Rs 9 billion taxes has been collected which shows an increase of 28 per cent as compare to last year whereas remittances have reached $4.2 billion.“Export has been increased $6 billion as compare to last year and efforts are being taken to end subsidy in energy sector,” the minister added.