IMF approves $1.2 billion Pakistan loan
?DUBAI: International Monetary Fund (IMF) has approved the fourth tranche of US$1.2 billion for Pakistan.
It is important to mention here that IMF conveyed its satisfaction over the use of the funds in Pakistan.
The fourth tranche was approved in the third meeting of IMF Executive Board at Dubai.
Due to the Christmas & Newyear holidays, the funds are expected to reach the State Bank of Pakistan in the first week of January.
It is reminded that the Pakistan has already received three installments of $5.32 billion from the IMF. During the meeting, the IMF expressed satisfaction over the use of the loan in the year 2009.
Now the next question arise , why Government imposing extra 16% tax in form of VAT on all consumables in coming 6 months. Even though they are receiving such huge amounts. Second, Electricity rates would be 13% more in January 2010.
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