Pakistan-IMF delegation to commence talks tomorrow: Aurangzeb

International Monetary Fund (IMF)

Lahore, May 12, 2024 : Finance Minister Muhammad Aurangzeb announced on Sunday that the IMF team has arrived in Pakistan, with talks for a new loan program set to commence on Monday.

Speaking at a pre-budget seminar, the finance minister emphasized the crucial role of the private sector in navigating the country through challenging times.

Additionally, he highlighted the failure of the FBR’s Track and Trace System and pledged to bring traders into the tax net.

In his address, the finance minister discussed various topics, including the determination of the rupee exchange rate and interest rates by the State Bank of Pakistan. He noted the stabilization of the rupee’s exchange rate and a decrease in inflation.

The minister affirmed the government’s commitment to providing facilities to traders while maintaining efforts to expand the tax net. He outlined plans to enhance the tax-to-GDP ratio, expedite the privatization of loss-making state-owned enterprises (SOEs), and overhaul the energy sector.

Furthermore, he emphasized strict measures against power theft and assured representation for the private sector on Discos boards.

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