US$1.2 billion transferred to Pakistan from IMF, says Finance Minister Ishaq Dar

ISLAMABAD (92 News) - Finance Minister Ishaq Dar has said that Rs1.2 billion had been transferred to the State Bank of Pakistan (SBP) from the International Monetary Fund (IMF).

Addressing a press conference on Thursday, he said that Pakistan will get US3 billion in nine months as a result of the IMF deal.

He said that Pakistan will get the remaining US$1.8 after two review reports. "The role of Prime Minister Shehbaz Sharif was vital in the dialogues with the International Monetary Fund (IMF)," he added.

Ishaq Dar said that the IMF Executive Board had approved the IMF programme last night. "The amount will improve the foreign exchange reserves in the country. The SBP account soared by US$4.2 billion in a week. I am thankful to the economic team that supported me in the difficult journey during the last eight months," he maintained.

The minister said that Pakistan is fast heading on the path of progress. "After the elections, the new government will make its own decisions," he added.