IMF talks for 2nd tranche of loan likely in October end week

ISLAMABAD: The talks for the second tranche of the International Monetary Fund (IMF) bailout will likely to be held in the last week of October, citing sources ARY News reported on Saturday.

“An online meeting of the Federal Board of Revenue was held with the IMF. The officials have told the IMF that Pakistan will not impose a new tax, ” sources said. “The FBR has been confident to attain the tax recovery target without imposing new tax,” sources said.

Sources said that the global lender has expressed its satisfaction with performance of the FBR. “The IMF will be informed about economic performance of the country in the first week of October”.

“Taxation data of the first quarterly of the ongoing fiscal year, July to September, will likely to be shared with the IMF in the next week,” sources said.

“A plan of crackdown against tax theft has also been shared with the IMF,” sources added.

It is pertinent to mention here that the development budget is likely to be reduced by Rs 150 to Rs 200 billion amid International Monetary Fund (IMF) pressure.

It was disclosed in a meeting of the Federal Minister of Finance Dr. Shamshad Akhtar with the provincial finance ministers.