ISLAMABAD: A crucial meeting of the International Monetary Fund’s (IMF) executive board, which has to approve the 5th tranche of $1.2 billion for Pakistan under its standby arrangement programme, has been delayed till mid-May because of the insertion of a new paragraph on the power sector, according to the letter of intent made available to The News.
Earlier, the meeting was set for May 3, but now it would take place on May 15 in Washington. This meeting has been postponed in April also because of Pakistan’s failure to introduce a bill on the Value-Added Tax (VAT) before the Parliament on time.
