Pakistan, IMF Begin Formal Talks on Economic Review

Islamabad:Formal negotiations between Pakistan and the International Monetary Fund (IMF) are set to begin today, with an IMF delegation having arrived in Islamabad, according to sources in the Ministry of Finance.

The Pakistani economic team, led by the finance minister, will participate in the discussions with the IMF delegation. The talks will focus on economic data and performance up to June 30.

According to Ministry of Finance sources, Pakistani authorities will brief the IMF on measures related to the Sovereign Wealth Fund and efforts to reduce the circular debt. The government will also explain the reasons for not deregulating the sugar sector.

The IMF will be briefed on Pakistan’s current account position, primary surplus, foreign exchange reserves and exchange rate situation.

Separate discussions between the IMF and the Federal Board of Revenue (FBR) will focus on broadening the tax base and implementing tax reforms.

The Ministry of Energy will brief the IMF on circular debt and reforms in the energy sector. The National Accountability Bureau (NAB) and Federal Investigation Agency (FIA) will provide updates on measures to combat money laundering and prevent terrorist financing.

The IMF will also hold discussions with the governments of Punjab and Khyber Pakhtunkhwa. The talks will cover measures to improve provincial tax and non-tax revenue collection, as well as the collection of agricultural taxes.