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US$8.9 billion in pipeline after start of IMF Program: Miftah Ismail

ISLAMABAD: Minister for Finance Miftah Ismail on Saturday announced that 8.9 billion dollars in pipeline for country after approval of a $1 billion tranche from the International Monetary Fund (IMF), ARY NEWS reports.

Speaking at a press conference, Miftah Ismail during an exchange money Pakistan will receive, after IMF approval, a statement that the Fund will disburse $3 billion, and after the extension in program, they could also receive an additional $2 billion.

“Saudi Arabia also approved the extension of $3 billion and more relief from the kingdom will come in July, he said added what after the start of IMF programAsian Development Bank (ADB) will also allocate $2.5 billion.

Finance minister who two days back announced hike of 30 rupees in fuel prices were not up to date of any further trip in fuel prices on 01 June and said he didn’t know if price I’ll go up or not.

“I expect prices of petrol and diesel won’t work up on June 01,” said the uncertain Miftah Ismail.

“We were not happy about the increase in fuel prices, and we had to go for decision preservation in view to travel on foot in fuel prices in the world,” he said. Finance minister however, denies that any summary was aimed at raising electricity prices.

Read more: IMRAN KHAN SLAMS ‘IMPORT GOVERNMENT’ FOR INCREASING GASOLINE PRICES

He said that the staff level agreement with IMF will be improved in June and it stabilizes economy and rupee.

Sharing information of subsidy announced Prime Minister Shahbaz Sharif yesterday, Miftah Ismail said that people below household income of Can apply for Rs 40,000 for Rs 2,000 subsidy through BISP.

BUT total of 14 million people will receive a subsidy, he said, and shared that those who want to receive money could send their network card number to 786 for registration with BISP.

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Derrick Santistevan
Derrick Santistevan
Derrick is the Researcher at World Weekly News. He tries to find the latest things going around in our world and share it with our readers.

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