ISLAMABAD – Talks between crisis-hit Pakistan, and International Monetary Fund will resume in late October.
Both sides will share views to pave the way for the next tranche of funds under a $ 3 billion lending programme designed to steer Pakistan out of crisis and avert default.
It was reported that an online meeting of the FBR was held with the multilateral lender. FBR remained confident in attaining the tax recovery target without slapping further taxes.
International Monetary Fund has expressed its satisfaction with the performance of tax collection authorities in Pakistan. The lender will be informed about the economic performance of Pakistan in the upcoming meeting.
Officials will apprised the US-based lender about taxation of the first quarterly of the ongoing fiscal year, while ongoing crackdown against tax theft, and hoarders will also be shared with the IMF.
Pakistan will cut the development budget by up to Rs200 billion in light of International Monetary Fund (IMF) pressure as Federal Minister of Finance Shamshad Akhtar discussed future course of action with the provincial finance ministers.
In July this year, State Bank of Pakistan bank received $1.2 billion from IMF as the first tranche of a $3 billion bailout. The debt-stricken country also received $1 billion from the UAE and $2 billion from Saudi Arabia from default.
