First round of negotiations with IMF conclude

The talks fail to produce concrete results, as IMF representative express several objections on RGST bill.


Express November 02, 2010

ISLAMABAD: The first round of talks between the International Monetary Fund (IMF) and Pakistan concluded on Tuesday.

The talks failed to produce any concrete results. The IMF representative expressed several objections on the reformed general sales tax (RGST) bill, terming it exteremely complicated.

The delegations offered to send international consultants to review the bill, as they had said in the technical negotiations last week before the talks started.

Earlier, the government decided to raise the electricity tariff by two per cent per annum as per IMF directives.

The IMF has said that Pakistan’s government must push through politically difficult tax reforms and curb government borrowing that spurs inflation.

The delegation will remain in the country for the next two days before it submits a report to the IMF executive council.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ