Pakistan’s economic crunch worsens as IMF refuses to revive the loan program
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Finance Minister Ishaq Dar has sought Prime Minister Shehbaz Sharif’s assistance after failing to pacify the International Monetary Fund (IMF) for reviving the loan programme, citing sources.
Finance Minister Ishaq Dar will attend a crucial meeting with the IMF officials from Qatar via video link, whereas, PM Shehbaz Sharif will also attend the virtual meeting.
The virtual meeting will also be attended by the finance ministry’s senior officers. PM Sharif will apprise the IMF officials regarding the prevailing economic situation link.
The economic team of the incumbent government will brief the IMF representatives on the plan of action for the 9th review. The economic team will take the IMF in confidence regarding the steps for increasing the tax net in the mini-budget.
Sources within the finance ministry said that the Federal Board of Revenue (FBR) completed preparations for the mini-budget and the tax ordinance will be given a final shape. Pakistan will request the global financing institution to send its mission at the earliest.
After holding the upcoming meeting, the International Monetary Fund will apprise the finance minister’s officials regarding its decision.
