The review will be the final one under the Stand-By Arrangement, and staff-level agreement is expected after their approval.
ISLAMABAD: (UrduPoint/Pakistan Point News-March 14th, 2024) Just hours before the start of negotiations with the International Monetary Fund (IMF) review mission, the Ministry of Finance claimed that Pakistan successfully achieved the targets of the second review.
According to the officials within the ministry of finance, as a result of Pakistani actions, it is expected that the IMF's program under the Stand-By Arrangement would disburse the third tranche of $1.1 billion.
The Ministry of Finance stated in its official announcement that Pakistan met all the structural benchmarks of the IMF's review, quality performance criteria and other indicative targets.
The review will be the final one under the Stand-By Arrangement, and staff-level agreement is expected after their approval.
However, there might be some concerns during the upcoming negotiations with the IMF as the Stand-By program has already disbursed nearly Rs974 billion during the first six months against the target of Rs1.074 trillion.
It is less likely to meet the non-tax revenue target during the second half of January to June 2024.
The target for collecting taxes by the FBR was Rs 9.415 trillion, and this will be another area of concern for the FBR as it achieved its 8-month target but suffered a loss of Rs 33 billion until February 2024.
The refunds given by the FBR under the current government's tenure are also significantly high.
The IMF is at Rs 879 billion by March 2024 in terms of the capacity to achieve targets set until March 2024.
