IMF Requests Pakistan to Provide Comprehensive Report on State-Owned Enterprise Losses
In a Monday meeting, the IMF was presented with an initial report detailing losses sustained by government institutions. However, the IMF delegation expressed the need for an updated report, rather than relying on older statistics. The discussions also included an evaluation of the Central Monitoring Unit's performance, which was established to monitor the financial performance of national institutions regarding losses.
Karobar
The International Monetary Fund (IMF) has called upon Pakistan to submit a detailed report on the financial losses incurred by state-owned enterprises as part of their ongoing discussions within an economic review framework. Sources indicate that during recent meetings, Pakistan's Finance Ministry sought an extension until December 2023 to prepare the report, a request conveyed to the visiting IMF delegation.
According to sources, the Central Monitoring Unit's team will furnish the IMF delegation with their inaugural review report. The government has assured the IMF that the requested updated report will be delivered shortly. This comprehensive report on losses incurred by state-owned enterprises is anticipated to be submitted to the IMF in the coming month.
Previously, the IMF had requested Pakistan to provide a report on potential tax collections across all sectors during the ongoing technical-level negotiations between the two parties. The Federal Board of Revenue (FBR) has pledged to meet the tax collection target of Rs9,415 billion for this fiscal year, assuring the IMF delegation during their visit.
Furthermore, the IMF has requested a progress report on unresolved tax cases from the FBR. Officials report that Pakistan has already collected Rs2,748 billion during the first four months of the current fiscal year. The IMF has called for a comprehensive plan to secure the remaining Rs6,670 billion by June 2024.
This development highlights the IMF's continued interest in Pakistan's economic performance and fiscal responsibility.
