Pak-IMF talks: Govt likely to increase power, gas tariff
The government is expected to increase power and gas tariff and tax net.
ISLAMABAD (Dunya News) – Pakistani officials and International Monetary Fund (IMF) will hold second round of talks today (Tuesday) in Islamabad to review strategy to increase power and gas tariff and circular debt.
After first round of policy level talks which were held on Monday, the government is expected to increase power and gas tariff and tax net.
During the first round, the officials of Finance Ministry and Federal Board of Revenue (FBR) apprised the IMF delegation on next budget and steps being taken to increase tax.
The IMF delegation, led by its chief Herald Finger, kicked off nearly two weeks talks with Pakistani team on the formal written request of Islamabad for a possible bailout package, which will be country’s 13th bailout.
On October 11, Pakistan had formally requested financial assistance from the IMF, the fund, setting in motion a series of talks that could lead to a bailout.
After campaigning on an anti-corruption platform, PM Khan won July’s general election on wave of popular support. But the country’s heavy current account deficit has cast a shadow over his first months in power, with foreign exchange reserves falling to just $8.4bn, barely enough to cover the country’s imports for the rest of this year. Pakistani officials had held talks recently with China and Saudi Arabia in an attempt to avoid asking for IMF assistance.
