Talks with IMF commence in Islamabad for another tranhce of over $ 1 billion with implementing harsh conditions of the fund like depreciation of rupee, increasing taxes on imports and hiking in power and fuel prices.
For Article IV consultations the talks are virtual and are being held on the video conferencing.
For program consultations the economy is being review with the financial authorities.
Talks are taking place with Secretary Ministry of Finance and Chairman FBR with a view to take stock of the first quarter data of the current fiscal year starting from July 01, 2021. GDP growth and tax collection targets set in the budget would also be reviewed in the talks.
Secretary Ministry of Finance would present the overall economic picture while the FBR chairman would brief the IMF delegation on tax collection targets and achievements. The parleys would continue for over a week.
IMF mission would also closely look the circular debt of the energy sector. IMF $ 6 bln EFF program was suspended after the Covid relaxation and other non-performance of the conditions.
