The SOS mission of International Monetary Fund (IMF) led by Jihad Azour, Director of the Middle East and Central Asia Department will be arriving in Pakistan tomorrow (Monday).
The mission will hold discussions with Pakistani authorities on fiscal issues, suggest ways to cut the fiscal deficit and review the reason of a shortfall in tax collection in the first two months of the current fiscal year, also the IMF team will put forward suggestions for economic reforms and reducing losses in the energy sector.
Earlier, on Sept 13, the International Monetary Fund (IMF) had said Pakistan needed to increase its domestic tax revenue in order to fund development.
“One of the key elements of the program that the IMF is supporting in Pakistan, Pakistan’s program, is the need to mobilise domestic tax revenue to fund much needed social and development spending while placing debt on a firm downward trend.” said IMF Director Communications Gerry Rice.
“Let me add that we expect an IMF team to be in Pakistan in the next few days, including our Director for that area, Jihad Azur will be there,” he said during the first quarter of the current fiscal year.
The State Bank of Pakistan (SBP) had received $1 billion from the IMF on July 10 as the first tranche of a bailout package for balance of payment support.
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