PESHAWAR, 28 June: The International Monetary Fund (IMF) has approved a loan of Rs50.6 billion for Pakistan.

According to a statement of the IMF, the loan is part of the three-year assistance programme for Pakistan which was started in 2013. It said Rs6.18 billion will be given to Pakistan for economic development under the assistance programme.

With the release of the fresh tranche, Pakistan has so far received over Rs4 billion from the IMF.

The Fund said it released eighth tranche of the assistance programme to Pakistan after reviewing its economic performance. It said Pakistan’s economy is headed in right direction.

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