Finance Minister Shaukat Tarin is hopeful that the International Monetary Fund (IMF) will go through with the provision of one billion USD to Pakistan.
The minister Shaukat tarin on Saturday said that inflation in the country will simmer down and the government will receive the one billion tranche from IMF.
He further added that IMF will be validating the data and statistics regarding power tariffs, gas prices as well as tax collection.
Speaking at the Pakistani embassy in Washington DC, Tarin said, “We are here to finalise our matters with the IMF. We have told the IMF to validate the data we have shared with them.”
He added that the government of Pakistan has signed an agreement with Independent Power Producers (IPPs) and that details pertaining to the agreement will be disclosed in the next few days. Tarin said that the government has set a target to improve the tax to GDP ratio to 20pc in the coming four to five years.
He added that measures are being taken to improve the economy. According to the minister, the government’s structural reforms have received appreciation, and that the common man residing in Pakistan will be given relief through targeted subsidies.
The finance minister expressed satisfaction over the inflows of remittances. He said that around 2.7 billion dollars had been received during the last month. Remittances had surged by 12.5 percent and touched eight billion dollars during the first quarter of the ongoing fiscal year.