New development reported on Pakistan - IMF economic relief package
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*Islamabad: The Pakistani delegation to negotiate with the International Monetary Fund (IMF), and to review the economic relief program for the country, would depart for Doha on May 17, 2022. *
IMF’s Staff Mission, headed by Nathan porter, will also reach Qatar today.
Negotiations between Paksitan and the IMF for the 7th review of the economic relief program for the country are scheduled to start on May 18. The shape of the upcoming budget will also be discussed in the negotiations.
Removal of subsidies over fuel, electricity prices, and tax collection would be discussed in the review. The negotiations, marking important decisions for the economic future of the country, would continue for a week.
Sources say that the IMF has demanded the government increase tax collection to 7,000 billion and remove any and all subsidies from fuel, electricity and agricultural products.
However, former finance minister Shaukat Tarin had criticised the Pakistan Muslim League Nawaz (PML-N) government for having no policy and being completely confused in every decision.
He had said, “This [PML-N] government is bearing pressure of IMF for not receiving another tranche of loan money before ending subsidies. The country’s market is facing a situation of uncertainty. They are not sitting on the opposition benches now and they should now show to handle these issues.”
