ISLAMABAD (Ahmed Mughal): The IMF likely to press Pakistan Government on deteriorated and unexpected economic indicators as its high level team to arrive Pakistan next week.

The Director Communication, IMF, Gerry Rice addressed press briefing in Washington.

While a responding a query, he said that an IMF team is visiting Pakistan from next week. Director Middle East and Central Asia Jihad Azhuor will lead the team.

He said that one of the key elements of the program that the IMF is supporting in Pakistan, Pakistan’s program, is the need to mobilize domestic tax revenue to fund much needed social and development spending while placing debt on a firm downward trend.

Mr. Rice said, recently, Acting Managing Director IMF David Lipton also visited Pakistan.

He said that this was actually something that David Lipton emphasized in meeting with Prime Minister Imran Khan.

The IMF team will visit Pakistan from 16 Sept to 20 Sept. The team will meet with Prime Minister Imran Khan, Advisor to PM on Finance Hafeez Shaikh and others. It will also meet with the National Assembly’s Standing Committee on Finance and Revenue.

Sources say that IMF is not happy with the recently results of economic performance. Pakistan’s economic team is assured IMF team that they will manage budget deficit not exceeding from 7.2 percent. Contrary of that commitment, Pakistan has closed budget deficit of last fiscal year at 8.9 percent to GDP.

Pakistan had received in July one billion dollar as first tranche from IMF under loan program. Both parties will hold first review meeting in Nov 2019 under the loan program.

Pakistan has to meet different targets of IMF including tax collection etc during first quarter of the current fiscal year

Pakistan and IMF had inked an loan agreement worth of $6 billion.


Please enter your comment!
Please enter your name here