Meeting the five crucial IMF targets required for the second loan allocation will be extremely difficult for Pakistan. Key difficulties include delayed privatisation of DISCOs, unfulfilled revenue targets and the inability to apply agricultural income tax by January 1. Furthermore, the foreign exchange reserves aim for March and the asset reporting program by January are at risk.
Read more: Pakistan Begins Work to Receive $1.1 Billion IMF Loan
Prices for petrol and diesel have increased as a result of the government’s efforts to lower the tax on petroleum because of IMF program restrictions. Since October 16, high-speed diesel has increased by Rs12.14 a litre, while petrol prices have risen by Rs5.07. Failure to meet these targets may result in tougher measures for securing future IMF payments.
Stay tuned to Brandsynario for the latest news and updates.