Adviser to the Prime Minister on Finance and Revenue, Shaukat Tarin, has returned to Washington, D.C., to resume talks with the International Monetary Fund, according to the spokesperson.
Tarin’s spokesperson, Muzzammil Aslam, tweeted that the adviser was back in the U.S. capital to recommence discussions with the international financial institution.
Similarly, Jihad Azour, director of the IMF’s Middle East and Central Asia Department, said negotiations between the fund and Pakistan had taken a “very good step.”
“The IMF mission to Pakistan and the authorities are currently in the process of the discussion around the sixth review of the programme, and the discussions are progressing around the various pillars of the programme and the measures that the government of Pakistan is currently contemplating,” he said during a news briefing.
IMF latest update: Mr. Shaukat Tarin, Adviser to the Prime Minister on Finance, has returned to Washington DC to join ongoing discussions with IMF. Media reports related to inconclusive talks are baseless. @FinMinistryPak
— Muzzammil Aslam (@MuzzammilAslam3) October 19, 2021
Aslam added that media reports suggesting a breakdown in talks are groundless.
On Monday, Tarin told journalists that the talks are making steady progress. “See, the talks are continuing and are continuing positively,” he said. “Some people have created an impression in Pakistan that we have failed, and the talks have been unsuccessful, that is completely false.”
Pakistan and the International Monetary Fund (IMF) are currently conducting the sixth review of Pakistan’s financial performance under the fund’s $6 billion Extended Fund Facility (EFF). If talks conclude amicably, the IMF will approve the release of a $1 billion loan tranche.
The IMF asked the government during meetings over the past two weeks to raise its revenue collection target for the current fiscal year from $5.8 trillion to $6.3 trillion. It also advised the government to raise the personal income tax for higher income brackets and elevate the base electricity and gas tariff and discount rates.
