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Federal Minister for Finance Abdul Hafeez Shaikh and his economic team would leave for US today (Tuesday) for talks  nike running shoes onlinewith the International Monetary Fund (IMF) officials for new stand-by programme for next fiscal year in order to return the loans that it has obtained from the IMF so far.
“The government will start negotiations with the International Monetary Fund for getting fresh stand-by programme for next fiscal year 2011-12 aiming at easing the payments of the payments on the foreign loans in the coming financial year”, said a senior government officer while talking to The Nation on Monday.
Finance Minister would lead the economic team and Governor State Bank of Pakistan, Deputy Chairman Planning Commission, Secretary Finance, Secretary Economic Affairs Division and Chairman Federal Board of Revenue would also represent the Pakistan’s side in the talks, which likely to be started from April 12 or 13 in Washington,nike mens acg sandals 2011 online  sources added.
The IMF mission would be visiting Pakistan in May this year again to assess the economic performance for the fifth review on the performance benchmarks agreed during the March visit.
It is worth mentioning here that Pakistan is currently reviewing various options to begin loan repayments of the current $11.3 billion IMF loan programme, of which Pakistan has received $8 billion. The last two tranches of the loan, worth $3.3 billion, were suspended after Pakistan failed to introduce RGST. Repayment of the $11.3 billion loan programme would start from 2012 and must be completed by 2016.
According to the sources, Pakistan would discuss two options with IMF, which included disbursing the one of the remaining tranche of the existing suspended programme and included other buy Reebok ZigTechtranche in the new programme. While in second option, Pakistan would request to include both the remaining tracnhes in the fresh programme.
Sources said that in case of successful finalisation of the new programme, the payment of the last two instalments of the existing programme could be revoked and merged with the new one or these could be deposited next year as repayment of the IMF loan. Pakistan would also discuss the economic situation of the country especially the new steps taken for revenue generation and expenditures control in order to control the soaring fiscal deficit for the last quarter (April-June) of the ongoing fiscal year 2010-11.