Pakistan averts mini-budget, IMF satisfied with economic progress
As the final round of negotiations between Pakistan and the International Monetary Fund (IMF) set to conclude today, the government has successfully convinced the global lender that no mini-budget will be introduced before the end of June.
Officials from the Ministry of Finance claim the IMF has expressed satisfaction with the country’s economic performance, paving the way for the release of the next tranche of $1 billion under the $7 billion loan programme.
Sources privy to the discussions revealed that IMF officials, led by Nathan Porter, held extensive meetings with Federal Finance Minister Muhammad Aurangzeb, where the economic performance of the first half of the fiscal year and future policy goals were reviewed.
The Fund reiterated its demand for broadening the tax base, particularly in the retail, wholesale, real estate, and dealership sectors, stressing that more businesses should be brought under the tax net to ensure sustainable revenue generation.
