ISLAMABAD: The International Monetary Fund (IMF) has urged Pakistan to take further action during the initial discussions for the second review of the SBA program, sources said.
In a meeting with officials from the Finance Ministry, the IMF expressed concerns regarding the subsidized supply of gas to fertilizer producers. The IMF called for an end to this subsidy, also raising worries about the rising prices of commodities within Pakistan despite stability on the international front.
Furthermore, the IMF delegation was briefed by relevant officials on various issues including circular debts in the energy sector, tariff projections, reforms on the cost side, tax administration, tax policy, the outlook for the Benazir Income Support Programme (BISP), and its development.
Additionally, the IMF urged Pakistani authorities to implement taxes on real estate, manufacturing, and retail sectors.
Finance Minister Muhammad Aurangzeb stated on Wednesday that Pakistan aims to finalize the largest and longest-running program with the IMF in the country’s history. He emphasized that the government’s primary goal is the improvement of Pakistan’s economy, even more so than satisfying the demands of the IMF.
Minister Aurangzeb highlighted Prime Minister Shehbaz Sharif’s clear vision for revitalizing the struggling economy, stating that the premier has issued strict directives in this regard.
