Finance minister apprises IMF of measures taken for economic turnaround

Finance Minister Asad Umar on Tuesday held a meeting with International Monetary Fund mission, which is on a visit to Pakistan for bailout talks. 

The finance minister apprised the delegation of corrective measures being taken to remove imbalances in the economy, APP reported.

He said that the government intends to introduced structural and institutional reforms for a turnaround in the economy.

The government will also invest more in social protection, human development and creating employment opportunities, Umar said.

The IMF mission will continue its discussions with officials during the next several days.

As policy-level talks kick off, IMF stresses higher tax collection in Pakistan

The IMF team, led by Harald Finger, stressed on effective measures required to increase the tax collection to help Pakistan deal with and recover from its current account deficit

It expressed its dissatisfaction at the current state of Pakistan's tax collection, a team representing the body that arrived here in the city to discuss the country's ongoing financial crisis said late Monday.

Finger, a senior economist and an adviser to the IMF, further stressed on effective measures required to increase the tax collection in order for Pakistan to deal with and recover from its financial crunch and current account deficit.

According to sources, the IMF also indicated its support towards the FBR's move to send notices to tax defaulters that, according to the federal government body, have been issued to thousands of the non-payers at present.