There is a Deadlock Between Pakistan and the IMF Regarding the Scheme to Bring in an Annual $100,000 to Pakistan. The IMF has not been Able to be Convinced by Pakistan’s Position on the Scheme.
According to the details, efforts are underway by the Pakistani economic team to persuade the International Monetary Fund (IMF). A lengthy virtual meeting took place between Pakistan and the IMF. Sources have revealed that there is a deadlock between Pakistan and the IMF regarding a scheme to bring in an annual $100,000 to Pakistan. The IMF has not been convinced by Pakistan’s position on the scheme so far.
Pakistan’s economic team briefed the IMF on the approved budget. And informed them that tax revenue has increased by an additional 215 billion Pakistani rupees reaching a total of 9,415 billion Pakistani rupees. They also informed the IMF about measures such as increasing non-tax revenue. Implementing new taxes budget approvals and conditions related to revenue generation.
The economic team requested a staff-level agreement from the IMF. Highlighting the implementation of stringent economic policies and measures. Which the IMF has acknowledged. However due to the absence of discussion about the $100,000 scheme in the budget. The IMF has requested clarification. Pakistan’s economic team will provide an explanation during today’s virtual negotiations and virtual discussions with the IMF will continue through mutual consultation.
Chairman of the Federal Board of Revenue (FBR), Asim Ahmed, Secretary of the Treasury. Imad Bosaal, and Special Assistant to the Prime Minister on Treasury. Tariq Bajwa, along with their teams, participated in the virtual meeting. External financing was also discussed with the IMF. And if the discussions remain positive, progress can be made towards the agreement.