Summary Executive Board meeting will be held in Washington on Wednesday to discuss the matter.
ISLAMABAD (Web Desk) - International Monitory Fund Executive Board meeting will be held in Washington on Wednesday, where matter of granting 6.6 billion dollars loan to Pakistan will come under consideration.
Ministry of Finance has expressed hope that, IMF Executive Board (EB) will approve the loan, because as per negotiations with IMF mission, government has taken many of significant steps to fulfill the terms of IMF.
IMF EB will grant 6.6 billion dollar loan to Pakistan for three years under the program of Extended Fund Facility (EFF), for which Pakistan has already given the Letter of Intent (LoI) while Minister for Finance Ishaq Dar has also informed about it.
IMF has agreed to extend the quota of Pakistan from 348 billion dollars to 415 billion dollars, by which Pakistan will get 6.6 billion dollars.
Under the agreement, Pakistan was bound to take several measures, and as per sources terms of IMF including consensus between provinces and federal, fixing surplus budget of provinces up to 6 percent, less monitory deficit, search for minimum 10,000 new tax defaulters and elimination of subsidy on electricity have been fulfilled.
As per sources, Federal Board of Revenue (FBR) is searching for new tax defaulters on fast tracks and thousands of such persons have been identified also which could be bring in the circle of tax.
