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In the last week of October, an IMF team will visit to conduct an economic evaluation of the standby arrangement.
IMF team visit Pakistan in October: The National Electric Power Regulatory Authority (NEPRA), the Oil and Gas Regulatory Authority (OGRA), the State Bank of Pakistan, the Federal Board of Revenue (FBR), and the Ministry of Energy have all been instructed to give implementation reports on the IMF conditions.
For more than a week, the IMF mission will meet with economic managers to go over the evaluation. The economic assessment will be focused on the circular debt in the energy sector, FBR revenue generation, and market-based currency exchange rate.
The circular debt management plan, bond issuance, and external finance will also be examined by the visiting IMF officials.
The standby agreement’s conditions will be followed as the team representing the global lender evaluates the revision and rebasing of electricity and gas prices.
By June 2024, the circular debt owed by the electrical industry will be decreased by 180 billion rupees, according to information provided to the IMF by the Ministry of Finance.
The team will meet with important political groups while it is in Pakistan and talk about the impending general elections there.
In the final week of October, it’s anticipated that the second tranche of the IMF bailout will be considered.
Further, The global lender is happy with the FBR’s performance, insiders claim. “In the first week of October, the IMF will be updated on the country’s economic performance.”
According to reports, “Taxation data of the first quarterly of the current fiscal year, July to September, will probably be shared with the IMF.”
According to reports, “a crackdown plan against tax theft has also been shared with the IMF.”