Briefing the media about the recent visit of Pakistan's economic team to International Monetary Fund (IMF) and World Bank he informed that the delegation had attended the spring meetings of IMF and WB and represented the country in the meetings.

"During the visit, we held bilateral talks with the representatives of different countries including China, UK, Germany, Saudi Arabia, Iran and Afghanistan for promoting the bilateral trade and economic ties," he said.

The minister further said that the visit was also aiming to revive the Pak-US strategic dialogue for enhancing the cooperation in different sectors including power generation.

Shaikh said that during his visit foreign investors were invited for exploring the business opportunities available in the country and introduced the soft image of the country in public meetings.

The minister informed that US$ 381 million was approved under Kerry Lugar Bill (KLB) and it was expected that the said amount would be received by June 30 this year.

Besides, he informed that US$ 745 million has been received so far under Collation Supports Fund (CSF) whereas US$ 500 to 600 million more was expected to receive by the end of this fiscal year.

He said that negotiations with IMF was heading towards proper direction and was satisfactory and it would bring positive impacts on national economy adding that IMF has appreciated the decision taken by the government despite internal and external challenges.

He further informed that IMF mission would visit Pakistan by May 8 adding that the negotiation process would continue for the economic stability.

The economic reforms process was country's own interest which would help to mobilize resources for infrastructure development and improving the living standard of the people.

The minister said that no condition of power tariff raise was discussed with IMF adding that IMF has assured to find out the ways to facilitate ADB and WB assistance of US$ 1000 million.

Later on, the minister informed that Economic Coordination Committee of the Cabinet in its meeting held here today reviewed the performance of NRSP and PPAF.

The ECC has decided to form a committee to further improve the performance of National Rural Supports Programme and Pakistan poverty Alleviation Fund.

The meeting also allowed to import the used buses, trucks and tractors and increased cotton cess price from Rs. 20 to 50 per bail.