IMF’s decision to see the government’s performance before giving a new tranche

The IMF delegation will come to Pakistan in November, only after seeing the economic performance, the installment of one billion and 10 million dollars will be available (Photo: File).

Islamabad: The IMF delegation will visit Pakistan in November to review the economic performance of three months after which a decision will be taken to give a new tranche. .

Sources in the Ministry of Finance say that the economic data for the first quarter of the current financial year is encouraging and other targets set with the IMF, including revenue, are on track, but the floods have caused widespread destruction in the country and the international According to the estimates of the committee consisting of the bank and other international donors, the country’s economy has been damaged to the tune of thirty to forty billion dollars.

The agricultural sector and livestock have been badly affected by the floods and agricultural targets have been affected. will be attempted.

Sources say that the IMF has been provided with the data related to the economic performance of the first quarter of the current financial year and discussions will be held in this regard.

Sources say that on the occasion of Finance Minister Ishaq Dar’s participation in the annual meetings of the IMF and the World Bank, important issues were discussed in the sideline meetings held in Washington, and in this, 5500 from the IMF. Tax measures worth billions of rupees were proposed and emphasis was also placed on setting up of a special task force on corruption.

Sources say that Pakistan had informed the IMF officials that these new revenue measures would not be necessary as Pakistan’s revenue is in line with the target and the growth in tax collections in the first quarter of the current fiscal year was seventeen percent. There is excess.

Sources say that now the delegation that will come to Pakistan will have a detailed discussion on all issues and there will be a detailed discussion about the ninth economic review in the negotiations. Sources say that the IMF may demand that the levy on petrol be 50 rupees per liter by December 31, while the levy on diesel may be demanded by 50 rupees per liter by April 2023. Sales tax may be levied on products.

Sources in the Ministry of Finance say that in the negotiations with the IMF, there will be a discussion on phased elimination of zero sales tax on petroleum products, various proposals to increase tax revenue will be reviewed.

According to the sources, there will also be discussions on limiting the subsidies and allocating them only to the poor, however, sources in the Ministry of Finance say that the economic data of the first quarter of the current financial year is encouraging. The country’s trade deficit has decreased, exports have increased and revenue growth has also been 17 percent despite the floods affecting the country’s economy.

Similarly, the import bill has also reduced while the current account deficit is also under control, so it is expected that the negotiations with the IMF will be successful and the IMF will be convinced. In this context, the next installment of one billion ten million dollars will be released to Pakistan from the IMF.

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