Pakistan received an installment of 1.6 billion dollars from the IMF

The Central Bank of Pakistan has said that an installment of one billion 16 million dollars has been received from the International Monetary Fund.

On Wednesday, the State Bank of Pakistan said on Twitter that after the completion of the seventh and eighth reviews under the Extended Fund Facility (EFF) by the Board of the International Monetary Fund, it has released an installment of $1.16 billion to Pakistan. has gone
The State Bank further said that the amount received from the International Monetary Fund will help in improving Pakistan's foreign exchange reserves and in obtaining foreign exchange from other bilateral and multilateral sources.
It should be noted that on August 29, the Executive Board of the IMF approved the issuance of loans under the Extended Fund Facility for Pakistan.
IMF in July 2019,  Pakistan signed a loan program agreement  
According to the agreement, an amount of six billion dollars was to be given to Pakistan in three years.
 
In February 2022   Pakistan received the sixth tranche of the loan under the agreement reached with the IMF.
The State Bank of Pakistan confirmed receiving a new installment of $1.053 billion on February 4, 2022.
After February, the implementation of the agreement was to be reviewed in March for a new installment, but according to economic experts, former Prime Minister Imran Khan froze fuel prices at a certain level, which made it difficult to meet the set economic targets. The MF program was suspended.
Fuel prices were hiked from 66 to 92 percent by the current coalition government to revive the IMF program.
, the Pakistani authorities and the IMF staff mission reached an agreement on the budget for the current fiscal year In June 2022, in which the authorities assured a tax of Rs 436 billion and a  lifting of the petroleum levy to Rs 50 per litre.