Back to Headlines Print Version Buzz Up Stumble it Tweet it Facebook LinkedIn

Pakistan Minister: Confident Of Getting $1.2 Billion IMF Loan

KARACHI -(Dow Jones)- Pakistan is confident of getting a$1.2 billion loan as the next tranche of International Monetary Fund's financial support to the country, Finance Minister Shaukat Tarin said Friday.

"The board meeting of the IMF is scheduled for December, and if it's approved, Pakistan will get a loan of $1.2 billion," Tarin told Dow Jones Newswires.

Meetings between representatives from the IMF and the Pakistan government started earlier this month and are scheduled to be completed Nov. 12.

IMF has pledged $11.3 billion in support to the strife-torn South Asian nation and has so far released $5.9 billion.

IMF officials weren't immediately available for comments.

Tarin said also the government is boosting efforts to restructure its tax collection system and aims to introduce a value-added tax by July 2010.

-By Haris Zamir and Islamabad bureau, Dow Jones Newswires; 91-11-4356-3311; neelabh.chaturvedi@dowjones.com

  (END) Dow Jones Newswires
  11-06-090755ET
  Copyright (c) 2009 Dow Jones & Company, Inc.