IMF talks for 2nd tranche of loan likely in October end week

The second tranche of the International Monetary Fund (IMF) bailout is expected to be discussed in the last week of October.

"The Federal Board of Revenue held an online meeting with the IMF." Officials have informed the IMF that Pakistan will not introduce a new tax, according to sources. "The FBR has been confident to attain the tax recovery target without imposing a new tax," according to sources.

According to sources, the global lender is pleased with the FBR's performance. "The IMF will be informed about the economic performance of the country in the first week of October".

"Taxation data of the first quarterly of the ongoing fiscal year, July to September, will likely be shared with the IMF in the next week," according to sources.

"A plan of crackdown against tax theft has also been shared with the IMF," sources said.

It is worth noting that the development budget is expected to be cut by Rs 150 to Rs 200 billion as a result of International Monetary Fund (IMF) pressure.

It was revealed during a meeting between Federal Minister of Finance Dr. Shamshad Akhtar and provincial finance ministers.