Islamabad- International Monetary Fund (IMF) has approved immediate release of 501.4 million dollars tranche for Pakistan.

In a statement IMF said, the Fund's Executive Board completed the sixth review of Pakistan's economic performance. The latest disbursement is part of about 6.12 billion dollars 36-month program supported by an Extended Fund Facility arrangement, which Pakistan secured in September 2013.

It signifies the Fund's confidence in Pakistan's progress towards economic growth and reforms. The latest approval brings total disbursements under the arrangement, to about 3.5 billion dollars.