The International Monetary Fund on Monday agreed to give Pakistan a loan of $5 billion.
The agreement on the fresh loan was reached after two days of talks in Islamabad. The Ministry of Finance has also confirmed the breakthrough.
During talks, government officials addressed the IMF’s reservations over the energy sector and taxation in the country.
The authorities assured the IMF that tax collection target had been set at Rs 2,475 billion during the current fiscal year through expansion in the tax net, and reduction in subsidy.
The IMF was also told that remittances of power tariff and line losses would also be brought down.
The Fund’s mission will stay in Pakistan until today (Tuesday).
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Don't uncork the champagne yet …
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Its not the solution .
We need better management of our finances by avoiding luxury .
What a shame! This loan is a curse and chain around the every single Pakistani's neck! Begging is never an option for independent states , Failed policy!
Most of the time the purposed reforms are in our long term interests and we should be doing something about them anyways, conditions or no conditions. Unchecked deficits in due course of time bring down the most resilient of economies. We with our economy and geostrategic position should be doubly careful.
In principle at least deficits and debt should be used only in extreme unavoidable circumstances and not a matter of course as we have made them.
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