IMF talks: Dar to leave for Dubai next week
10th review of economy will end in first week of Feb
PHOTO: AFP
ISLAMABAD:
Finance Minister Ishaq Dar will leave for Dubai on Monday next week to participate in talks with the International Monetary Fund (IMF) over the 10th review of Pakistan’s economy, officials say.
Government and the IMF have already started the review and first technical round will be completed by the end of current month.
Policy-level talks would begin next week where Dar would lead Pakistani delegation and Harald Finger would be heading the IMF team, officials in the Ministry of Finance told APP.
Finance Secretary Dr Waqar Masood Khan, State Bank of Pakistan Governor Ashraf Mahmood Wathra and Federal Board of Revenue Chairman Nisar Muhammad will assist the finance minister in the talks.
The policy-level dialogue will end in the first week of February, after which Finger will likely visit Islamabad for holding a joint press conference with Dar on the outcome of the deliberations.
If the talks remain successful, recommendations will be made for releasing the 11th loan tranche of $500 million to Pakistan.
According to the officials, Pakistan’s capacity to repay the IMF loan has strengthened in the wake of supportive policies, improved foreign exchange reserves following a steady flow of remittances, sharply lower oil prices and a reduced budget deficit.
During the meeting, the Pakistani team will brief the IMF on collection of tax revenues and progress on energy-sector reforms and privatisation of state-owned enterprises.
They will highlight the steps undertaken to widen the tax net including the launch of a voluntary tax compliance scheme to encourage more people to file tax returns and gradual elimination of tax exemptions and statutory regulatory orders. Reforms implemented in the energy sector to phase out subsidies will also be highlighted.
Published in The Express Tribune, January 30th, 2016.
Finance Minister Ishaq Dar will leave for Dubai on Monday next week to participate in talks with the International Monetary Fund (IMF) over the 10th review of Pakistan’s economy, officials say.
Government and the IMF have already started the review and first technical round will be completed by the end of current month.
Policy-level talks would begin next week where Dar would lead Pakistani delegation and Harald Finger would be heading the IMF team, officials in the Ministry of Finance told APP.
Finance Secretary Dr Waqar Masood Khan, State Bank of Pakistan Governor Ashraf Mahmood Wathra and Federal Board of Revenue Chairman Nisar Muhammad will assist the finance minister in the talks.
The policy-level dialogue will end in the first week of February, after which Finger will likely visit Islamabad for holding a joint press conference with Dar on the outcome of the deliberations.
If the talks remain successful, recommendations will be made for releasing the 11th loan tranche of $500 million to Pakistan.
According to the officials, Pakistan’s capacity to repay the IMF loan has strengthened in the wake of supportive policies, improved foreign exchange reserves following a steady flow of remittances, sharply lower oil prices and a reduced budget deficit.
During the meeting, the Pakistani team will brief the IMF on collection of tax revenues and progress on energy-sector reforms and privatisation of state-owned enterprises.
They will highlight the steps undertaken to widen the tax net including the launch of a voluntary tax compliance scheme to encourage more people to file tax returns and gradual elimination of tax exemptions and statutory regulatory orders. Reforms implemented in the energy sector to phase out subsidies will also be highlighted.
Published in The Express Tribune, January 30th, 2016.