An International Monetary Fund (IMF) delegation has arrived in Pakistan to conduct an economic review, ARY News reported citing sources within the Ministry of Finance.
The delegation will hold talks with Pakistani officials in Islamabad, with the discussions expected to continue until March 15, the sources said. A meeting between the delegation and representatives of the finance ministry began in Islamabad.
The negotiations will take place in two phases: technical discussions in the first phase, followed by policy-level talks in the second phase. The IMF delegation will also provide suggestions for Pakistan’s budget for the upcoming fiscal year 2025-26, the sources added.
According to details, the successful talks could lead to the release of the next $1 billion tranche for Pakistan by the IMF as part of the $7 billion loan programme
The IMF delegation will hold separate talks with officials from the Ministry of Finance, Ministry of Energy and Planning, State Bank of Pakistan, Federal Board of Revenue (FBR), and other institutions. Additionally, the delegation will also engage in separate discussions with representatives from provincial governments of Punjab, Sindh, Khyber Pakhtunkhwa, and Balochistan.
Read more: IMF approves US$7 billion bailout package for Pakistan
The nine-member mission led by Nathan Porter will stay about two weeks and assess Pakistan’s economic performance to determine the release of the next $1 billion tranche.
The IMF team held talks with the Pakistani officials over climate finance last month and reportedly opposed sales tax concession in local sale of the parts of electric vehicles, the sources shared. The IMF officials suggested routine tax rate in the new electric vehicles policy.
The lenders team objected over the proposed sales tax relief on electric vehicles and rejected the relief offered in the country’s electric vehicle policy, sources said.
The team demanded of the authorities not to offer any concession over the raw material used in manufacturing of EVs including local supply and sale of automobile spare parts.
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