Talks with IMF to bear fruit, hopes Hafeez Shaikh

ISLAMABAD: Adviser to Prime Minister on Finance Dr Abdul Hafeez Shaikh here on Wednesday expressed the hope that talks with the International Monetary Fund for a proposed bailout package would bear fruit.

In a brief interaction  with media following the conclusion of today’s  round of talks, Dr Hafeez Shaikh said, “Initial negotiations have taken place with IMF team. The mission was apprised regarding the agenda of economic reforms.”

He further said that talks with IMF team would continue for few more days and hopped that negotiation on a bailout package with IMF would turn out to be successful.

According to the details, Pakistan and IMF held an important meeting in Islamabad to review the proposed bailout package.

The Pakistani delegation was led by adviser to Prime Minister on finance, Dr Abdul Hafeez Shaikh, who briefed the IMF mission about Pakistani steps to end deficit and privatization program.

Secretaries from Power Division, Petroleum Division, FBR chairmen and others were also present in the meeting.

Read More: IMF programme: Pakistan hints at raise in tax collection target by Rs600bn Earlier, a delegation of Federal Board of Revenue (FBR), headed by its Chairman Jehanzeb Khan had held negotiation with the officials of International Monetary Fund (IMF) in connection with the expected bailout package on April 29 and had hinted at raise in tax collection target by Rs600bn in the next fiscal year.

The sources had  said that the FBR officials had briefed the IMF officials about tax reforms and took the officials into confidence over amnesty scheme.

They had told the IMF officials that assets-declaration scheme and other schemes would attract non-filers into tax net.