The Executive Board of the International Monetary Fund (IMF) today approved immediate disbursement of $1.2 billion to Pakistan following a third review of its economic performance. With this, Pakistan has so far received $6.54 billion from the IMF under this programme supported by a Stand-By-Arrangement. In November 2008, the IMF had approved about $8.11 billion which are being disbursed in phases based on Pakistan's economic performance. Noting that stabilisation was progressing on the macro front, the IMF’s Mission Chief to Pakistan, Adnan Mazarei said IMF appreciates the steps taken by the Pakistani government towards structural reform for moving toward a value-added tax.