The International Monetary Fund (IMF) has stated that the government must reinstate some abolished taxes and expand some existing ones in order to meet its short term revenue projections. Pakistan and International Monetary Fund (IMF) delegation continued their discussions on Wednesday to develop a revised budget estimate on the exact extent of the budgetary adjustments necessary to meet the commitments. In May, the IMF agreed to a $6 billion bailout package for Islamabad after the government unveiled an austerity budget and introduced painful reforms to secure funding and address economic crisis. The bailout allows for an immediate disbursement of $1bn and will unlock about $38bn in investment from Pakistan’s international partners. According to the sources, the net impact of the additional budget measures of Rs735 billion was only Rs235 billion or 31% in the first half (July-December) of this fiscal year. The drop in collections is due to sluggish economic growth and weak enforcement by the Federal Board of Revenue (FBR). This raises questions as to whether the FBR can actually execute the new mini-budget under consideration of almost 200 billion rupees during the remaining four months of the fiscal year. Pakistan hopes the IMF programme will help rebalance its economy and strengthen its balance of payments position. Pakistan is also seeking foreign direct investment as part of the China-Pakistan Economic Corridor projects and loan packages from other international partners to further augment its economy.