Pakistan, IMF yet to finalise schedule for talks: sources

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) have yet to finalise schedule for talks as the government’s request for lender’s mission remained unanswered, ARY News reported on Sunday, citing sources.

According to details, the government had requested the lender to send its mission to Pakistan at the earliest to conclude a long-awaited agreement to revive the loan programme.

However, sources told ARY News that the government has not received any response from the Fund yet. Sources quoting officials claimed that the IMF seems to be waiting for concrete steps from the government.

Sources further said that the government has completed preparations for important decisions to restore of loan programme. “The government is likely to approve the increase in electricity and gas prices next week”, they claimed.

The government may also pass ordinances for levies and taxes. Sources added that the way will be paved for the restoration of IMF programme after taking important decision.

Earlier on Jan 21, Pakistan formally assured the International Monetary Fund (IMF) to meet its demands for reviving the stalled loan programme.

According to sources, a roadmap has been provided for revival of the IMF debt package. Moreover, proposals for increasing tax revenue have also been handed over to the lender.

A mini budget of around 200 billion rupees has been suggested for increasing tax revenues. “Preparations are in offing for an ordinance to enforce the mini budget,” according to sources.

“The mini budget will come into force from February 1st,” sources at the Ministry of Finance disclosed.

According to sources, Flood Levy will be enforced over imports in the mini budget. “Flood Levy will also be imposed over imported raw material and furnished items,” sources said.