IMF’s technical team arrives in Pakistan to hold dialogue

ISLAMABAD: International Monetary Fund (IMF) sent their technical team to Pakistan in order to hold dialogues regarding the payment of the upcoming tranche of $6 billion which is the part of extended loan programme.

Sources said that the technical team will meet with economic officials of the country and will stay for two weeks. The session of their official talks was organized today on Tuesday. The payment for the next tranche is likely to be sent in 2020. Sources also revealed that the current visiting team is likely to begin talks regarding the tax system with the officials of Pakistan.

On the other hand, the concerned persons of the Federal Board of Revenue (FBR) also discussed income and sales tax-related issues aiming to generate more than Rs. 700 billion tax.

Meanwhile, the technical team also encouraged Pakistan to terminate exemptions that are given on sales and income tax to elevate the collections.

According to reports, the technical team of IMF is likely to go through tax exemption from the tenures of PML-N and PPP.

It is pertinent to mention here that on 10^th July, IMF had given $1 billion to Pakistan as a part of the first tranche of a bailout package regarding the maintenance of payment support.

According to the declaration of IMF, the economic growth rate of Pakistan remains 2.4% during the financial year of 2019-2020. It is also said that inflation is going to decline in the coming months.