International Monetary Fund (IMF) envoy Jaffar Mojarrad has told the Pakistan Government that there will be no waiver for the country if it dishonours any of its commitments under the extended fund facility.
Mojarrad was in Islamabad to convey the IMF board's thinking to policymakers on an earlier approved 6.7 billion dollar three-year loan, which was extended to Pakistan to help it to overcome its economic crisis, the Express Tribune reports.
Pakistan is set to receive the loan in 13 tranches, out of which the first amounting to 547 million dollars has already been received.
Mojarrad said if Pakistan fails to implement any of the agreed conditions, it will have to seek a waiver from the IMF Board, or the remaining tranches will be suspended.
Pakistan, in an effort to meet pre-conditions for the approval of the loan, had earlier increased power tariffs for industrial, commercial and bulk consumers, issued notices to over 10,000 tax evaders, sought Council of Common Interests approval for seeking Rs. 117 billion savings from provinces and conducted open market operations worth 125 million dollars through the State Bank to support dwindling foreign currency reserves.
Mojarrad appreciated Pakistan's efforts to meet all pre-conditions set for the approval of the programme during the meeting with Finance Minister Ishaq Dar, the report added.
