| GEO Business|
| Pakistan, IMF discussing 4th tranche in Dubai|
| Updated at: 0644 PST, Friday, November 06, 2009|
DUBAI: Dialogues between Pakistan Federal Board of Revenue (FBR) officials and International Monetary Fund (IMF) are under way in Dubai for the forth tranche of $7.6 billion of IMF loan program.
According to sources, in the dialogue the IMF has bee assured that government’s new austerity drive will reduce financial deficit upto 0.2 percent.
Sources told Geo News, IMF has been told that government’s new austerity drive will reduce the financial deficit to 3.3 percent from 4.5 percent.
IMF has also been informed that more Term Finance Certificates can be issued to remove circular debt in the power sector, whereas value-added tax will be imposed in next fiscal year as per the schedule