IMF gives yet another jolt to Pakistan government

IMF gives yet another jolt to Pakistan government

A team from the International Monetary Fund (IMF) has recently evaluated the status of Pakistan's state-owned enterprises and has declined to accept a report submitted by the Pakistani government, as per sources on Monday. These findings come amidst ongoing technical-level discussions between the Pakistani government and the IMF.

The IMF has pressed the government to take steps to increase its revenue to align with the targets established in the Staff-Level Agreement reached in July. Specifically, the Fund has urged the government to enhance its revenue collection to reach Rs6,670 billion by June 2024.

Furthermore, the Federal Board of Revenue has been requested to provide a detailed breakdown of revenue collection by sectors, offering a more comprehensive view of the financial landscape.

Notably, the IMF's team expressed dissatisfaction with the report submitted by the government regarding the losses incurred by state-owned enterprises (SOEs).

Their rejection of the report was primarily based on the outdated figures within it, and they have requested that a fresh report be prepared, focusing on losses incurred during the first quarter of the current financial year.