A delegation of the International Monetary Fund (IMF) is presently on a 4-day visit to Pakistan. The IMF delegation has expressed its satisfaction over the 3-month performance of the government.
Asia Jihad Azour—the Director of IMF for Middle East and Central Asia led the delegation. The delegation held meetings with the Prime Minister Imran Khan, Hafeez Sheikh—the adviser on finance and other members of the National Assembly’s standing committee on Finance.
The IMF delegation was briefed about the reduction in the present account and trade deficits of Pakistan. Hafiz Sheikh informed the IMF officials regarding the developing exports of the country, the chances of getting Rs.1,000 billion under the umbrella of non-tax revenue and the plans to accelerate the privatization of the government-owned organizations.
The visiting delegation expressed their satisfaction with the performance of the government, which includes the surge in the tax revenue. The officials clarified that talks for resetting the tough targets under the IMF programme were not needed.
IMF’s Azour said that it is not necessary for Pakistan to return the loans of China during the $6 billion IMF programme. He stressed on the need of bringing structural reforms in and empowering the state-owned enterprises.
The IMF delegation head said that no alterations are being made to the objectives of the programme and the annual tax collection target would not be decreased.
Pakistan in the month of July, entered a 3-year programme with IMF. Under the programme Pakistan would be given $6 billion over the span of 3 years and major changes should be made in the country. These changes include the increased taxes and duties on the commodities like electricity and gas.
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