September 30, 2020

IMF Delegation Arrived In Pakistan To Assess Economic Performance

The IMF delegation headed by Jihad Azour, arrived in Pakistan for a weeklong assessment of the economic performance of Pakistan, as per the conditions of the IMF $6 billion bailout package. The delegation is from the IMF’s Middle East and Central Asia wing and consists of eight members. The delegation is to hold formal talks with top government bodies such as Nepra, OGRA, SECP and SBP.

The officials from both sides termed the visit as a routine scheduled visit which was agreed upon at the time of signing of the bailout package. The delegation would assess the revenue generation situation of the country as well. The FBR had set the target to almost 5.555 trillion in FY2109. Experts are optimistic about achieving the target. A high-level meeting was also called upon yesterday by the PM, in which the economic team of the PM informed him that they had almost reached all the targets set for this quarter and the targets set by the IMF.

The government is also expecting almost Rs1 trillion inflow from non-tax revenues and is optimistic about reaching the target of Rs5.555 trillion in revenue this year. The economic team of the country is positive that the IMF delegation would approve off the steps taken by the government.

The government has also formed a parliamentary panel to assess the inflation issue of the country, which would meet with the IMF team and would discuss the terms put forward by the IMF for Pakistan. The panel would discuss the impacts of those policies on the country’s economy and would give suggestions regarding some changes in the bailout program conditions.

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