The IMF has relaxed some of the targets set for the release of the next tranche of $1.3 billion. The International Monetary Fund has asked the Pepco to adjust electricity rates and tariffs according to the line losses and stop providing all subsidies.

The Government had failed to meet the implementation of VAT, control on Government borrowings from SBP and control on increased deficit. Despite of the failure in achieving the above defined targets the IMF has released the $1.3 bln tranche, keeping in view the disastrous situation due to heavy floods and rainfall in the country.

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