ISLAMABAD: The new federal cabinet, in its maiden session on Wednesday (today), granted approval to remove Finance Minister Miftah Ismail’s name from the Exit Control List (ECL).
Sources privy to the matter said that Miftah Ismail will depart for Washington tonight where he would hold talks with the officials of the International Monetary Fund (IMF) on the seventh review of a $6bn bailout programme. Earlier, the IMF had suspended the programme due to the recent political turmoil in the country.
It is pertinent to mention here that the State Bank of Pakistan's Governor Reza Baqir had already reached Washington for the talks with the IMF. A one billion dollar tranche will be issued to Islamabad if the negotiations remain successful, the sources added.
The sources said that the federal cabinet approved the summary presented by the ECL committee following which it will take decisions regarding the addition and removal of names from the exit list after reviewing the terms of reference (TORs).
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