ISLAMABAD: International Monetary Fund (IMF) shared lists of prerequisite actions and told Pakistani authorities in plain words that Islamabad will have to move towards implementing all demands for reviving stalled Fund programme.

IMF has asked Pakistan to take all required actions that could pave way for striking staff-level agreement and releasing of $ 1 billion tranche under Extended Fund Facility (EFF).

Sources sinformed IMF has sought roadmap from Pakistan for collection of Rs 855 via petroleum levy till June 30, 2023. Pakistani authorities have to jack up levy on diesel by Rs 15 per litre and drag it to Rs 50 per litre. IMF has also sought settlement of circular debt in gas sector for revival of stalled loan programme, sources said and added Pakistan has to jack up gas price up to 74 percent to fix debt. Pakistan has been also directed to take steps for increase of Rs 300 billion in tax collection and increase basic electricity tariff. It has also been learnt that IMF wants Pakistan to end ‘artificial ban’ on dollar exchange rate. Finance Minister Ishaq Dar is also worried over ‘strong stance’ of International Monetary Fund, sources said.

Published in The Daily National Courier, January, 18 2023

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