ISLAMABAD: Pakistan signed the letter of Intention (LOI) received from the International Monetary Fund (IMF) last week, paving way for release of 1.2 billion dollars.
By copy of letter of intention (lol) available with ARY News, Islamabad assured the IMF of implementation of the 27-point action plan.
In LoI, Prime Minister Shahbaz Sharif led coalition government assured the lender of abolition of all subsidies on gasoline and electricity, and prices will rise gradually.
federal government further assured that review ban on imported goods in January 2023.
AT coalition government assured the IMF that it would not lift the ban on imported items while the value of in dollar will be market-based on.
AT government received LOI from the IMF on Friday, which was reportedly signed on Monday.
On August 2, the International Monetary Fund (IMF) confirmed that Pakistan has achieved all set goals for revival of Extended Funding Program (EFF).
Exclusive to ARY News, Resident Representative of the International Monetary Fund (IMF) in Islamabad, Esther Perez Ruiz said Pakistan has achieved everything financial goals set fund and last action has been taken on July 31 by extending the collection on petrol.
Ruiz said that the 7th and 8th reviews have been completed and the Fund’s Executive Board will meet. in third week of August.
