ISLAMABAD: Pakistan will commence its review talks with IMF from today (Wednesday) in connection with release of a one billion dollars tranche under the Extended Fund Facility (EFF) in Doha.
The talks will continue till MAY 25. Pakistan delegation comprising representatives of finance ministry, FBR, State Bank and energy ministry will be led by finance secretary.
Finance Minister Miftah Ismail will participate in policy talks.
Sources said IMF had demanded withdrawal of subsidy from petrol, electricity and gas. The subsidy being given by government on petroleum products has soared to Rs 86.71 per liter.
Sources disclosed if the negotiations remain successful then it will be recommended to release tranche of one billion dollars to Pakistan immediately.
As per sources IMF has demanded that FBR tax recovery target be enhanced to Rs 1100 billion in the next fiscal year.
IMF is also demanding increase in policy rate by one percent.
