IMF approves $1.7bn loan for Pakistan, says Miftah

International Monetary Fund (IMF) has approved the Extended Fund Facility Program for Pakistan, says Finance Minister Miftah Ismail.
Miftah in his tweet said that Pakistan would receive $1.7 billion loan under the Seventh and Eight reviews.

Alhamdolillah the IMF Board has approved the revival of our EFF program. We should now be getting the 7th & 8th tranche of $1.17 billion. I want to thank the Prime Minister @CMShehbaz for taking so many tough decisions and saving Pakistan from default. I congratulate the nation.

— Miftah Ismail (@MiftahIsmail) August 29, 2022

He said that he thanked Prime Minister Shehbaz Sharif as he took tough decisions, which saved the country from default.

The minister also congratulated the nation.

Earlier on Monday, Federal Minister for Finance Miftah Ismail comprehensively addressed all concerns of Khyber Pakhtunkhwa Finance Minister Taimur Saleem Khan Jhagra, says a statement issued by Finance Ministry in Islamabad on Monday.
The understanding was reached in a meeting between Miftah Ismail and Taimur Saleem Khan Jhagra held at the Finance Ministry.

Jhagra briefed Miftah about financial issues of newly amalgamated districts of the KP and he also informed him about reforms introduced in the province.
Miftah assured Jhagra of his full support and cooperation for the KP.

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Meanwhile, Khyber Pakhtunkhwa Finance Minister Taimur Saleem Jhagra challenged Federal Finance Minister Miftah Ismail to prove that he (Jhagra) had written a letter to the International Monetary Fund (IMF).

He said that Miftah knew very well that he had not written the letter and if he could not prove it, he must resign.

Jhagra further said that Miftah’s own party also wanted him to resign.

He vowed that he would keep on fighting for the rights of his province and country.