The IMF makes a formal announcement following loan negotiations with Pakistan.

Leading a mission from the IMF, Mission Chief Nathan Porter visited Pakistan from May 13 to May 23 and engaged in lengthy talks about the economic progress made by the nation.

Fair tax collection from favored sectors is emphasized, and the declaration underscores the Pakistani government’s earnest attempts to boost revenue.

Pakistan pledged to collaborate with the IMF to achieve sustainable economic growth, as per the organization’s mission statement. In line with the Extended Fund Facility (EFF) scheme, the statement predicted that Pakistan’s economy will stabilize.

In order to support the upcoming new loan program, Pakistan has effectively completed the goals outlined in the Standby Arrangement Agreement.

The declaration emphasizes how widening the tax base is essential to ensuring stability and economic expansion. Pakistan’s energy sector reforms are urgently needed, according to the IMF, which also urges suitable policy and exchange rate measures to manage inflation.

In order to keep inflation under control, the statement stated, cutting the cost of energy production is crucial and a strict monetary strategy is needed.

Additionally, the IMF emphasized the necessity of enhancing the performance of state-owned businesses and stated that increased efficiency requires the privatization of these companies.