Tarin derives strength from IMF tranche

ISLAMABAD: Federal Minister for Finance and Revenue, Shaukat Tarin said Thursday that approval of the $1 billion 6th tranche by the International Monetary Fund (IMF) was its endorsement of the policies adopted by the incumbent government.

Prior to leaving for China, Tarin said the IMF tranche would also help in bringing stability in local currency as well as the national economy, besides the development of the country.

Highlighting the importance of Prime Minister Imran Khan’s ongoing visit to China, Shaukat Tarin said it was not only of political significance but would have a long-lasting impact on the economic development and prosperity of the country.

China was setting up its industrial estates across the world, he said, adding Pakistan would also seek Chinese cooperation for establishing its industrial units in special economic zones developed under China-Pakistan Economic Corridor Project.

IMF to approve tranche only after prior actions are carried out: govt

Finance Minister further said that huge investment opportunities were existing in different sectors of the national economy for local as well as foreign investors. The opportunities are particularly available in the local agriculture sector, which is the backbone of economic development in the country.

Besides, he said the prime minister would also discuss the agriculture transformation plan during his visit to China as the agriculture sector of the country was of paramount importance and had been playing important role in development.