Pakistan’s talks with the International Monetary Fund (IMF) have not failed as the country has accepted most of the Fund’s new conditions, a news outlet reported on Saturday.
According to the report, Islamabad will have to comply with the IMF’s news conditions, including increase in tax revenue, and ensure the implementation of a privatisation programme to secure the IMF loan programme.
“The IMF suggested that we review our economic targets and comply with conditions related to the power sector reforms,” the news outlet quoted its sources in the ministry of finance as saying.
The report said that the Fund has rejected the ministry’s plan and its board will pronounce the final decision regarding the resumption of Pakistan’s loan programme
Earlier on Monday, it was reported that a deadlock had persisted between Pakistan and the IMF as the global lender had put forward harsh conditions for the release of stalled loan, asking Islamabad to undo unnecessary tax holiday facility and raise the tax collection to Rs6,000 billion.
It was also reported that the talks between the IMF and Pakistan were not going in a smooth way as the Fund had asked for the abolition of unnecessary tax holidays and imposed a condition to raise tax revenue to Rs6 trillion.
The technical teams of both sides had failed to build consensus on gas and electricity prices.
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