Pakistan ‘successfully achieved’ IMF targets

Hours before the start of talks with the International Monetary Fund’s Review Mission, the Ministry of Finance has claimed that Pakistan has successfully achieved the targets of the second review.

According to officials, as a result of Pakistan’s actions, the third tranche of $1.1 billion is expected to be released under the IMF’s Program Standby Agreement.

The Ministry of Finance has stated in its official announcement that Pakistan has achieved the targets of all the structural benchmarks, quality performance standards and other indicators of the IMF assessment.

This will be the final review of the standby agreement and the staff level agreement in this regard is expected after their approval.

However, there will be some concerns during the upcoming talks with the IMF as the standby program has yielded around Rs974 billion during the first six months against the target of Rs1074 billion.

Non-revenue income during the second half from January to June 2024 are also unlikely to meet the target.

FBR’s tax collection target was Rs9415 billion and this will now be another area of ​​concern for it as the board has achieved its 8 month target but has a deficit of Rs33 billion by February 2024.