IMF Team Arrived In Pakistan For Formal Talks on Extended Fund Facility Of 9th Review

IMF Pakistan

ISLAMABAD:  The official discussions on the 9th review of the Extended Fund Facility will begin Today As  the International Monetary Fund (IMF) team arrived in Islamabad.

A senior member of the Finance Ministry confirmed this. When questioned, he responded, “They are already here, and technical-level meetings are starting today (Tuesday) and going until Friday, after which there will be policy-level discussions.”

There is no choice but to implement the conditions set forth and carry out structural reforms in the power sector, according to a representative who spoke on the condition of anonymity.

He added that the government would have to raise taxes and raise the cost of gas and electricity due to the widening gap between revenue and spending.

While According to the official, the government’s austerity committee has also suggested shrinking the size of the cabinet. In regards to the power sector, he stated that the IMF wanted to recover the full cost of electricity and that the government should only provide subsidies from budgeted amounts.

As the difference between revenue and expenditures grew daily, the government would need to impose additional taxes.