Economic reforms by Govt. show impressive performance: IMF

ISLAMABAD: The International Monetary Fund’s (IMF) Middle East and Central Asia Director Jihad Azour lauded Pakistan for carrying out economic reforms in accordance with the Extended Fund Facility of the IMF, and for successfully handling the issue of the exchange rate and monetary policy.

While addressing a press briefing at the Finance Ministry, Mr Jihad informed that the government had managed to collect 50 % more general sales tax and around 30% more domestic tax revenues as compared to the same period of last year.

He further stressed that for good results, it is imperative to give some time to the government for taking more reform measures in achieving a stable economy.

Along with Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Sheikh, State Bank of Pakistan Governor Reza Baqir, Minister for Planning and Development Khusro Bakhtyar, Minister for Economic Affairs Division Hammad Azhar, Mission Chief to Pakistan Ernesto Ramirez-Rigo, Federal Board of Revenue (FBR) Chairman Shabbar Zaidi, Secretary Finance Naveed Kamran Baloch and Spokesman Ministry of Finance Omer Hamid Khan were also present at the briefing.

The IMF team is on a visit to Pakistan till September 20 and will review the programme’s progress.

Jihad further informed that to review Pakistan’s economic performance during the first quarter of the fiscal year 2019-20, an IMF team would again visit Pakistan by the end of October or in early November

The Pakistan government was doing a good job in tax collection which was evident from the fact that in two months, it had managed to collect 50 % more general sales tax and around 30% more domestic tax revenues as compared to the same period of last year.

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