Start of preparations for negotiations with the IMF
The Ministry of Finance has started preparations for important talks with the IMF review mission next week.
It has been ensured that the invitation letter is sent to the IMF immediately after the formation and swearing in of the federal cabinet.
It has been confirmed by top government sources that the IMF is also waiting for a formal invitation from Islamabad, which is likely soon after the formation of the cabinet.
I.M.F will arrive in Pakistan for the purpose of initiating negotiations for the completion of the second review of the Agreement.
While at the same time, Pakistan has also applied for a fresh deal of extended fund facility for 36 months.
It should be clear that the discussion regarding the future EFF program has not been done yet and has not been finalised.
But Islamabad will consider the possibility of strengthening the EFF so that the scope of finance can be increased from $6 billion to $8 billion.
The FBR has set a tax collection target of Rs 890 billion by March 2024. By March 2024, if there is a shortfall, the IMF could come up with a program of its own that would include additional tax measures which will be implemented in the remaining period of the current financial year.
