DUBAI, (Pakistan Point News - APP - 4th Augst,2016) :Minister for Finance Senator Muhammad Ishaq Dar said on Thursday that successful completion of the last review was an indicative of government's strong commitment in implementing difficult structural reforms in the areas of taxation,energy, monetary/financial sectors and public sector enterprises. Finance Minister Senator Muhammad Ishaq Dar stated this while addressing a Joint press conference along with Harald Finger, IMF Mission Chief here.
Dar said that Pakistan and the IMF had successfully completed negotiations on the Final Review under the 3-year Extended Fund Facility (EFF) programme for an amount of $6.4 billion. Highlighting the overall programme performance of Pakistan, the Finance Minister said "Our performance throughout the programme culminating in the Twelfth Review has been highly satisfactory". "We met the end-June 2016 Quantitative Performance Criteria on Net International Reserves, Foreign Currency swap/forward position, and government borrowing from SBP by significant margins.
The targets on Net Domestic Assets and budget deficit were missed marginally", he remarked. Finance Minister Ishaq Dar said that the indicative target for end-June, 2016 on targeted cash transfers through Benazir Income Support Programme (BISP) and on power sector arrears were met. He informed that Federal board of Revenue (FBR) not only achieved its annual target of Rs.3104 billion but exceeded it.