Pakistan and the International Monetary Fund (IMF) to start the negotiations from Thursday (November 2) in order to secure the next tranche of $710million.
Sources divulged that the IMF delegation will reach Pakistan tonight. During the technical negotiation, the data will be exchanged.
The government is expected to apprise the IMF of the developments in line with tax reforms, circulation debt, and the power sector.
The finance ministry, the Federal Board of Revenue (FBR) and concerned authorities will brief the IMF review mission team.
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The IMF will also be briefed on the development in line with the target of the external financing. The reduction in losses to public institutions will also be highlighted
– Stringent demand –
Few weeks back, the international lender (IMF) had proposed strict austerity measures for Pakistan's development budget as the global lender raised concerns about the allocation of funds for new projects in the ongoing financial year.
In response to the IMF's austerity conditions, the authorities were considering stopping funds for the new development projects.
The IMF had suggested that Pakistan's caretaker government should allocate funds for ongoing projects, especially those near completion, instead of starting new ones.
