Federal Finance and Investment Minister Shaukat Tarin said the director-general of the International Monetary Fund (IMF) has approved the continuation of the $6 billion Enlarged Fund (EFF) program for Pakistan.
Federal Minister Tarin confirmed the news on Twitter: “I am pleased to announce that the IMF government has approved its programs in Pakistan for six minutes. The Washington government has also decided to suspend some of its $6 billion in extended funding requests for the fourth tranche. The global lender is now signing up to receive SDR 750 million (about $1,059 million) for Pakistan, bringing the total EFF to about $3,027 million. Prior to this signing, Pakistan and the IMF reached an agreement on the personnel, policies, and reforms needed to complete the valuation of the sixth $6 billion EFF and issue a statement on November 21, 2021.
It is clear that Pakistan has decided to implement a plan that includes austerity measures and the implementation of Rs. 500 billion tax including Rs. 20 litres of fuel