ISLAMABAD, February 14: The visiting IMF mission has extended its stay in Pakistan for making more efforts to strike a consensus on the staff-level agreement as both sides have so far persisted with respective differences on immediate measures to reduce the revenue-expenditure gap, sources reported.
The IMF has also asked Islamabad “to reduce its trade and commerce reliance on Beijing” and look for other international options by signing free trade agreements with other countries too, according to sources.
Sources reported on Thursday night that both sides were busy in ironing out differences over revenue generation efforts as the FBR wants a further reduction in its revised target of Rs5,238 billion, but the IMF desires to see the plan aimed at removing distortions and expanding narrowed tax base on a permanent basis.
Without the reform plan, the IMF is not going to show a lenient attitude over FBR’s inability to maximize revenues efforts, one top official quoted the IMF team as saying during their interaction. The IMF still insists that if the need arises, the government must take measures to correct the situation halfway instead of waiting for the next fiscal year.-Agencies
