ISLAMABAD  -   The Executive Board of the International Monetary Fund (IMF) would meet on April 29 to approve the last tranche of $1.1 billion for Pakistan under the stand-by arrangement.

Last month, Pakistan and IMF had reached the staff level agreement on the second and final review of Pakistan’s stabilization program supported, which was subject to approval by the Fund’s Executive Board, upon which the remaining access under the SBA, $1.1 billion will become available. Now, the Board would meet on April 29 to approve last tranche for Pakistan.

Pakistan had already received two tranches worth of $1.9 billion under the Stand-By Arrangement from the IMF

Pakistan has recently requested the IMF for a fresh loan programme. Finance Minister Mohammad Aurangzeb stressed that apart from the IMF, no plan B could be imagined, with the new staff-level agreement expected in June or July. He informed that discussions will commence upon the arrival of the IMF mission to Pakistan, expected by mid-May. “We hope that if everything goes well and the privatization is agreed upon, the staff-level agreement will be signed at the end of June or the beginning of July”, he said other day.