IMF agrees to delay 6th review on Pakistan request

ISLAMABAD, January 10: The international lending agency -IMF- has accepted the Pakistan authorities’ request to delay its board meeting called on Jan 12 to evaluate country’s 6th review of $6 billion Extended Loan Facility until the end of the current month. Spokesperson to Finance Minister, Muzzammil Aslam wrote in his tweet: “International Monetary Fund has agreed to reschedule meeting of its board of directors on Pakistan’s request for approval of 6th review of the Extended Fund Facility.” The Finance Ministry formally sent a request to the IMF urging it to delay its executive board meeting slated to be held on Jan 12. The Fund while accepting the request put off its review until the end of January. The spokesperson said that the Supplementary Finance Bill, 2021 and State Bank of Pakistan Autonomy Bill have been presented in the National Assembly and after the passage of the bills, the IMF executive board would mull releasing the next tranche to Pakistan. The government has convened the National Assembly session today (Monday) to get the Supplementary Finance and SBP Autonomy bills passed by the lower house. While, the opposition is hell bent to stop their passage saying the bills would unleash a storm of inflation in the country and make the SBP a pawn in the hands of the IMF. -DNA