As Pakistan engages in ongoing discussions with the International Monetary Fund (IMF) to secure the next installment of its loan, reports emerge of plans to introduce plastic currency notes as a measure against counterfeiting.
Scheduled talks between Pakistan and the IMF today will address Federal Bureau of Revenue (FBR) reforms, tax collection strategies, and urgent fiscal year tax collection enhancements.
State Bank of Pakistan (SBP) officials are poised to brief the IMF delegation on the initiative to implement new plastic currency notes, specifically designed to thwart counterfeit practices prevalent in Far Eastern countries and Switzerland.
Furthermore, Pakistan is committed to fulfilling IMF requirements, including producing reports in compliance with the United Nations Anti-Corruption Convention. The Ministry of Interior and Ministry of Law are tasked with assessing the effectiveness of anti-corruption institutions, as stipulated by the IMF.
Discussions will also encompass strategies to streamline government institutions and accelerate privatization endeavors, underscoring Pakistan’s dedication to economic reform efforts.
The IMF delegation, having arrived in Islamabad yesterday, has already engaged in talks with Finance Minister Muhammad Aurangzeb, reflecting the urgency and importance of these negotiations.
