Abb Takk News

IMF Issues Report Comprising Conditions Of Bailout Package

ISLAMABAD: International Monetary Fund (IMF), prior to handing over the first tranche of $1 billion to Pakistan, has issued a report which comprises of conditions which the country will have to fulfil as per agreed over the bailout package.

In the IMF report, Pakistan has been asked to issue track and trace system in the month of September for excise duty onto cigarettes.

It stated that the country must not to give another amnesty scheme.

Furthermore, IMF has asked Pakistan to issue a fresh notification for new tariffs of electricity set by NEPRA and devise a plan, with world partners, for alleviating comprehensive circulatory debt.

The report suggests provinces to show a strong commitment to support the effort and to improve the efficiency of public spending.

It also suggested strong financial support to the authority’s policy efforts by Pakistan’s international partners is essential to meet the large external financing needs in the coming years and allow the program to achieve its objectives.

The report added that IMF will aim to tackle long-standing policy and structural weaknesses and restore macroeconomic stability.