KARACHI: The International Monetary Fund (IMF), likely to approve $1.2 billion loan for Pakistan during a board meeting scheduled to be held on May 3, wants Islamabad to peg the fiscal deficit at 5.1 per cent of the GDP, an official of the Finance Ministry said.
The regional head of the IMF for South Asia, during his meeting with Prime Minister Yousuf Raza Gilani on April 13 in Washington, assured him that the IMF Board in its meeting on May 3 would approve the release of the fifth tranche for the country under a standby arrangement of $11.3 billion, he said requesting anonymity.
“The IMF has also proposed that Islamabad can request for a new loan as early as May,” he said.
The Finance Ministry official expressed optimism for the successful completion of the present IMF programme by December this year. The prime minister apprised the IMF regional head about the government’s efforts to broaden the tax base and for keeping the budget deficit at around 5.1 per cent, the official said. Gilani urged the top officials of the fund to consider Pakistan’s ground realities and difficulties before suggesting further reform measures, the official added.
Source The News
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