Daily Times

The International Monetary Fund (IMF) has asked Pakistan for a report on the losses incurred by state-owned enterprises. During the ongoing talks between the two sides as part of an economic review, the Finance Ministry asked the visiting Fund delegation for time till December 2023, according to sources. During a meeting on Monday, the IMF was presented with a preliminary report on losses to government institutions, the sources added. However, the delegation requested a new report instead of the old statistics. The meeting also reviewed the performance of the Central Monitoring Unit established regarding the losses of national institutions. The sources further said that the Central Monitoring Unit team will provide the first review report to the IMF delegation. The government has assured the Fund that it will provide the new report soon. The report about the losses to government enterprises is expected to be submitted to the IMF next month, the sources added. Previously, the IMF asked Pakistan to share a report on the possible tax collection from all sectors during the ongoing technical-level talks between the two sides. The Federal Board of Revenue (FBR) assured the visiting team of meeting the tax collection target of Rs9,415 billion this year. The IMF also sought a progress report on the pending tax cases from the FBR. Officials say Pakistan has collected Rs2,748 billion in the first four months of the ongoing fiscal year. The Fund has also asked for a plan to collect the remaining Rs6,670 billion by June 2024.