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IMF’s SOS mission arriving in Pakistan today

ISLAMABAD: The International Monetary Fund’s (IMF) SOS mission, led by Jihad Azour, Director of the Middle East and Central Asia Department, will be arriving in Pakistan today (Monday).

According to an official, the mission will hold discussions with Pakistani authorities on fiscal issues, suggest ways to cut the fiscal deficit, and review the reason of a shortfall in tax collection in the first two months of the current fiscal year.

“The IMF team will put forward suggestions for economic reforms and reducing losses in the energy sector,” the official said.

Earlier on Sept 13, the International Monetary Fund had said Pakistan needed to increase its domestic tax revenue in order to fund development.

IMF Director Communications Gerry Rice said, “One of the key elements of the program that the IMF is supporting in Pakistan, Pakistan’s program, is the need to mobilise domestic tax revenue to fund much needed social and development spending while placing debt on a firm downward trend.”

Rice further said this was something that was emphasised by acting the fund’s Managing Director David Lipton during his recent meeting with Prime Minister Imran Khan.

“Let me add that we expect an IMF team to be in Pakistan in the next few days, including our Director for that area, Jihad Azur will be there,” he said.ormance during the first quarter of the current fiscal year.

The State Bank of Pakistan (SBP) had received $1 billion from the IMF on July 10 as the first tranche of a bailout package for balance of payment support.

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.