IMF tells Pakistan to ‘do more’

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  • Technical team expresses reservations on Pakistan’s failure to implement its 14-point agenda formulated four years ago

The technical team of the International Monetary Fund (IMF) has asked the government to revoke the subsidy on electricity and called for immediate reforms in the power sector, it was learnt on Thursday.

According to media reports, Pakistan presented the details of circular debt, while the IMF delegation, which is visiting Pakistan to assess the economic condition of the country, expressed reservations on Pakistan’s failure to implement its 14-point agenda formulated four years ago.

As per details, the power division officials on Thursday tabled its performance chart before the IMF team. The chart included information on tariff, recovery and losses. The power division also gave a detailed presentation to the delegation on circular debt.

The IMF team, while handing over a new performance chart, asked the officials to ensure 100 per cent recovery from the consumers. It is pertinent to mention that a similar performance chart was given to the government in 2014, which was not implemented

Meanwhile, the FBR officials briefed the IMF delegation on the taxation system, including the recent reforms undertaken by the board. The IMF team asked the FBR officials to make the system more stringent in order to increase the revenue, besides bringing about across-the-board reforms.

The delegation which arrived on October 7 will be in the country for two weeks to hold talks regarding a possible bailout package.

 

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