The IMF statement said that Pakistan has recently commenced implementing the financial plan of the institution and its economy needed a financial adjustment.
Provinces informed the IMF team that their tax collection has been better in comparison to the federal government, Shah said, adding that the federal government has to work to improve its tax recovery.
ISLAMABAD: An International Monetary Fund (IMF) team on Wednesday held the first round of talks on a possible IMF bailout, even as Pakistan insisted it had solved its immediate balance of payments crisis. The talks were held in Islamabad between the IMF delegation and officials of the finance ministry on a "technical level". The government shared Pakistan's economic data with the IMF. The Fund has suggested Pakistan to cut its expenditures and increase tax returns. Sources said the talks would continue for two weeks.…