IMF urges Pakistan to do more


Express April 30, 2010

ISLAMABAD:

The International Monetary Fund said Pakistan must do more to tackle rising inflation and overcome power shortages.


It said inflation has increased from around nine percent at the end of last year to 12.9 percent at the end of last month. The IMF also said its board will meet in May to approve the fifth installment of Pakistan's $11.3 billion loan. The installment amounts to $1.15 billion.


The meeting has been delayed several times partly due to delays by Pakistan in implementing Value Added Tax and raising power tariffs.


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