Economy holds its breath

The first biannual performance review of the ongoing International Monetary Fund’s (IMF) $7 billion Extended Fund Facility (EFF) was concluded smoothly on a “positive note”, with no signs of any major hiccups during the discussions. The end of the mission statement issued by the Fund late on March 14 shows that the discussions were successful, as predicted by most analysts, in spite of delays in the implementation of programme goals in certain areas and missed tax revenue targets, with Pakistani authorities hoping to receive the next $1bn tranche early next month.