The International Monetary Fund (IMF) on Monday asked Pakistan to reduceexpenses before the talks on the ninth review of a $7 billion loan program.
As per details, the International Monetary Fund (IMF) is not satisfied withthe performance of the Finance Ministry and the Federal Board of Revenue(FBR) and has demanded to reduce expenses, sources said.
The fund has asked the Finance Ministry to submit a report of the increasein expenses due to floods in Pakistan for the release of the loan tranche.
In response, the Finance Ministry assured the IMF of submission of a reportin the current month to which the fund has disagreed.
The fund has reportedly asked the FBR to increase tax collection.
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Earlier, State Minister for Finance and Revenue, Ayisha Ghous Pasha hadsaid that the IMF was informed about hike in expenditures due tounprecedented flooding in the country.
“The emergency and available resources were utilized to tackle the floodsituation,” state minister said. Pakistan will also demand additional fundsfrom the IMF,” the minister said.
