Islamabad: Negotiations are underway between Pakistani authorities and the International Monetary Fund (IMF) to secure the next tranche of the loan program.
According to sources, the IMF delegation will meet officials of the Federal Board of Revenue (FBR) and the Bureau of Investment and Privatization (BSIP). Key issues such as economic reforms and improving the tax collection system will be discussed in these talks.
The FBR has informed the IMF of its plan to meet the tax shortfall of Rs605 billion. According to sources, no mini-budget will be presented to meet this shortfall, but the focus will be on the speedy disposal of tax cases pending in the courts. The government has assured full cooperation in resolving tax cases pending in the courts.
The Chief Justice of Pakistan has also approved the request for an urgent hearing of tax cases, which is expected to speed up the process of tax collection. These steps can be helpful in giving a positive direction to the negotiations with the IMF and achieving the next tranche of the loan program.
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