Islamabad (October 03, 2018): A delegation of International Monetary Fund (IMF) on Wednesday visited National Electric Power Regulatory Authority (NEPRA) and asked the federal government to hike power tariff.
Sources said that IMF delegation expressed grave reservations over line losses, non-payments and soaring deficit.
Click Play Button To Watch This Video:
The delegation proposed to craft such legislation which ensures implementation of NEPRA’s proposals in 15 days. The delegation of IMF also suggested to slash the duration of submission of NEPRA’s progress report from 30 days to 15 days.
Whereas the economists have warned federal govt that IMF’s proposal—if implemented—will increase cost of doing business.
Earlier on October 01, International Monetary Fund (IMF) delegation on Monday had held a meeting with the Federal Board of Revenue (FBR) and Ministry of Finance officials and urged the government of Pakistan to bring non-filers into the tax net.
An IMF delegation held the third round of talks with officials from the Ministry of Finance and the Federal Board of Revenue (FBR). Sources add that FBR officials briefed the IMF delegation on the country’s taxation system.
IMF asked the officers to ensure consolidated measures to make all non-filers accountable under tax net.
IMF had termed current economic condition ‘unsatisfactory’, during the previous two rounds of talks.
State Bank of Pakistan (SBP) governor and Federal Board of Revenue (FBR) chairman will also hold separate meetings with IMF’s delegation.
Sources privy to development stated that IMF has sought contract details of game-changer China Pakistan Economic Corridor (CPEC) as West’s interest continues to deepen in the multi-billion dollars strategic arrangement between time-tested allies [Pakistan and China].
Talks between two sides will continue till October 4.
On Sunday, Finance Minister Asad Umar said the visit of the IMF team had nothing to do with any bailout package. He stressed that the uncertainty surrounding the economy would be cleared by mid-October, adding that economic reforms were the top priority of the government.
According to the finance minister, the government was exploring all opportunities to strengthen the national economy.
Related News:
