Pakistan seeks time from IMF to implement demands

Pakistan has asked for some time from the IMF to implement demands.

A delegation led by IMF Mission Head Nathan Porter met Finance Minister Ishaq Dar and discussed Pakistan’s economic situation.

Finance Secretary Hamid Yaqoob Sheikh, Minister of State Ayesha Ghaus Pasha, and Special Assistants to Prime Minister Tariq Pasha and Tariq Bajwa also attended the meeting.

According to Media reports, the IMF delegation asked to fulfill the promise of keeping the budget deficit at 4.9 percent and also asked fulfilled the promise of keeping the primary deficit at 0.2 percent of GDP.

The IMF delegation demanded that the exemption of Rs110 billion to the export sector should be removed, and the FBR’s tax collection target of Rs7,470 should be met at all costs, besides significantly reducing the circular debt.

The IMF also asked to meet the target of recovering Rs 855 billion in the form of a petroleum levy.

IMF further asked to implement the privatization program, while the IMF also pointed out the fiscal deficit and losses.

According to finance ministry officials, the IMF called for strict adherence to fiscal discipline.
Officials say the IMF did not oppose subsidies for the poor, and the IMF agreed to continue relief under the BISP.

Meanwhile, Pakistan decided to be part of the IMF program.

As per the media, Pakistan is willing to implement all the demands but more time should be given to this. Pakistan will continue sustainable institutional reforms with the IMF delegation.