IMF 'appreciates' progress, but still stringent on conditions.

ISLAMABAD -- The International Monetary Fund (IMF) has asked the government to achieve the revenue target, keep a lid on issuing new guarantees and put into effective implementation the circular debt reduction strategy, reported Dawn.

'The talks with the visiting mission have been highly successful and the government did not ask for a waiver, it was not required,' said a source quoted in the report.

The IMF mission appreciated progress on the implementation of the programme so far but emphasised that there was no room for complacency in any of the key areas going forward.

The IMF has also called for a strict adherence to Rs1.6 trillion worth of government guarantee limit and discussed various options with the ministries of finance and power regarding tariff issues, claimed the media report.

The government is expecting disbursement of the second tranche of about $453 million in December this year as a result of completion of the first quarterly review. Pakistan had already received about $995 million in July out of total $6 billion programme on completion of all prior actions committed by the country before signing the fund programme.

The government was advised to strengthen coordination at...