Bailout package: Pakistan, IMF to hold important meeting today

F.P. Report

ISLAMABAD: Pakistan and the International Monetary Fund (IMF) will discuss the expected bailout package and a meeting in this regard will be held in Islamabad on Wednesday (today).

According to detail, the IMF delegation, which arrived in Islamabad on Monday, is expected to conclude the technical details of the proposed loan by May 6.

Adviser to Prime Minister on finance, Dr Abdul Hafeez Shaikh is leading the Pakistani delegation, who will brief the IMF mission about Pakistani steps to end deficit and will also be brief regarding privatization program.

The Fund has shown its concerns over the Federal Board of Revenue (FBR) as it failed in achieving revenue target.

FBR fall short by Rupees 345 billion tax collection during first 10 months of the current fiscal year.

On April 29, a delegation of Federal Board of Revenue (FBR), headed by its Chairman Jehanzeb Khan held negotiation with the officials of International Monetary Fund (IMF) in connection with the expected bailout package and hinted at raise in tax collection target by Rs600bn in the next fiscal year.

The sources had said that the FBR officials briefed the IMF officials about tax reforms and took the officials into confidence over amnesty scheme.

They told the IMF officials that assets-declaration scheme and other schemes would attract non-filers into tax net.

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