An IMF delegation is in Pakistan to review its ecomic progress and use of first tranche of USD 6 billion loans extended to cash-strapped country. In July, International Monetary Fund (IMF) approved a USD 6 billion loan to Pakistan with a string of conditions to be fulfilled and progress review every quarter. 

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IMF delegation 

eight-member IMF team, led by Middle East and Central Asia Director Jih Azour, will hold a series of meeting Prime Minister Imran Khan and or officials of Pakistani government.  IMF delegation will be briefed on use of first tranche of USD 6 billion loans it has extended to Pakistan, tax revenue, tre deficit, rupee value, new monetary policy and methods to improve n-tax revenue. Finance viser Hafeez Sheikh will brief delegation on Pakistan's ecomic progress. Meetings are also scheduled with Federal Minister for Ecomic Affairs Hamm Azhar, Federal Minister for Planning, Development and Reforms Khusro Bakhtiar and or ministers.

RE | Pakistan Likely To Miss IMF's Tax Refund Condition

Finance viser Shaikh told media that arrival of IMF officials was a routine affair and re was worry about it. According to reports, Pakistan is likely to miss IMF's condition to refund Rs 75 billion to taxpayers in first quarter despite an incentive by global lender. IMF h offered to soften tough primary budget deficit reduction target if country performs better in tax refunds.

Loan deals

Under USD 6 billion IMF loan deal, Pakistan is required to reduce primary budget deficit, calculated by excluding interest payments, to Rs 276 billion in current fiscal year 2019-20 from last year's level of Rs 1.350 trillion.

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