Wednesday, August 10, 2022

IMF’s SOS mission arriving in Pakistan tomorrow


ISLAMABAD: The International Monetary Fund’s (IMF) SOS mission will be arriving in Pakistan tomorrow (Monday).

Led by Jihad Azour, Director of the Middle East and Central Asia Department, 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, ARY News reported, citing sources.

They said 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.

IMF Director Communications Gerry Rice said, “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.”

Rice further said this was something that was emphasised by acting the fund’s Managing Director David Lipton during his recent meeting with Prime Minister Imran Khan.

“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.ormance 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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