IMF-Pakistan policy level talks begin tomorrow

ISLAMABAD: The International Monetary Fund (IMF) and Pakistan policy-level talks will begin tomorrow, ARY News reported citing sources.

According to sources, the IMF will brief Pakistan on their suggestions and demands whereas the ‘do more’ demands will also be tabled during the meeting.

Sources said that it is expected that the IMF’s point of view on the foreign exchange rate will also revealed and the monetary fund is likely to raise questions on the foreign financing needs.

Yesterday, the International Monetary Fund (IMF) review mission expressed satisfaction with the measures taken by the government of Pakistan to curb the smuggling and hoarding of foreign currency.

Sources told ARY News that the IMF mission, visiting Pakistan, held talks with officials reviewed the issues related to exchange rate management of Pakistani Rupee against US dollar.

The review mission was briefed on measures taken to curb smuggling and hoarding of US dollars and against organized criminal cartels involved in such activities.

During the meeting, IMF expressed satisfaction over the measures, including crackdown against illegal currency dealers.

Pakistan has also agreed with the IMF to share the data of the tax evaders with the help of FBR, banks and NADRA, to improve tax collection.

The agreement was reportedly reached during policy review talks between the IMF officials and Pakistan to release a $700 million loan tranche under the Standby Agreement (SBA).

It is pertinent to mention here that the caretaker government and the International Monetary Fund (IMF) kicked off the much-awaited loan review talks.