LAHORE - Federal Minister for Finance Shaukat Tarin on Friday said that Pakistan had demanded more $3.1 billions from International Monetary Fund (IMF) as the government is facing delay in aid from the Friends of Democratic Pakistan. An amount of $3.1 billions has been requested from the IMF. This amount would be used on insurance policy terms, Tarin told reporters after attending a function held under the aegis of Pakistan Post Office Employees here at GPO Office. He also hoped that that circular debt of Rs 200 to Rs250 billions would perish during current month as the government is taking important steps to revive the economy. He further said that inflation rate was 13 percent in mid of June. He also informed that in June the inflation ratio in the country was 13 percent and the foreign exchange reserves of Pakistan presently were $ 12 billion and the incumbent government has targeted to spend funds for agriculture, manufacturing, education, health by focusing its attention to address the ongoing electricity crisis. Shaukat Tarin also said that the government would not privatise Pakistan Post as it was not running in deficit. Staff Reporter from Islamabad adds: Senator Shaukat Tarin took oath as Federal Minister for Finance on Friday in a ceremony held at the Presidency. President Asif Ali Zardari administered the oath. Prime Minister Syed Yousuf Raza Gilani, federal ministers and other senior officials were present on the occasion. President and Prime Minister congratulated Shaukat Tarin after the ceremony. The newly sworn in Finance Minister assured that he would try his best to come up with the expectations of both the leaders. Prior to that, Tarin served as Advisor to the Prime Minister on Finance. He had been recently elected unopposed as Senator from Sindh.