News Desk
ISLAMABAD: The International Monetary Fund (IMF) has imposed 11 new conditions on Pakistan, including regular increases in gas and electricity prices, strengthening the autonomy and transparency of the National Accountability Bureau, and broader reforms in taxation and governance, according to a report.
The IMF has also proposed setting the Federal Board of Revenue’s tax target at Rs15,267 billion for the next fiscal year. Authorities are expected to generate an additional Rs430 billion in taxes, including Rs215 billion through new measures and Rs115 billion through enforcement actions.
The report further suggests that Pakistan may collect Rs1,727 billion through petroleum levy in the upcoming fiscal year, placing additional pressure on consumers already facing rising fuel costs.
Structural benchmarks set by the IMF include parliamentary approval of the federal budget, strengthening anti-corruption and public procurement systems, improving tax administration, and maintaining Pakistan’s unconditional cash transfer programme, including the Benazir Kafalat initiative.
Other conditions involve gradual exchange rate flexibility, regulatory transparency reforms, amendments to Public Procurement Regulatory Authority rules, and the establishment of a regulatory registry for federal and Islamabad business regulations. The IMF has also called for the phased withdrawal of special economic zone incentives by 2035.
Officials say the measures are aimed at improving fiscal discipline and structural reforms, though they are expected to have significant economic and political implications.
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