Govt to table SOE bills for IMF compliance

ISLAMABAD: At the last leg of talks, Pakistan has been compelled to introduce a series of bills to the parliament for bringing more than a dozen major State-Owned Entities (SOEs) under the coverage of standard statutory, fiduciary and governance compliance to meet deadlines and conclude a successful review with the International Monetary Fund (IMF).

At least two different sets of legislation would be presented to the National Assembly within days to meet a previously repeatedly missed structural benchmark with the IMF that has been reset for compliance by the end of the current month. Talks are expected to conclude on Wednesday.

Informed sources told Dawn that the authorities reported to an IMF mission that the austerity measures announced by the prime minister to address economic challenges caused by supply chain disruptions in the region would initially negatively affect revenue collection, already facing shortfalls, but would lead to positive outcomes with a delayed inflationary impact.

The net revenue impact would be positive. Coupled with the Federal Board of Revenue’s (FBR) enhanced recoveries from litigation and enforcement, there would be no need for further downward revision of the already slashed target.

Aims to meet structural benchmark by end of this month

Aims to meet structural benchmark by end of this month

The FBR is expected to meet the revised target, and even if there is a further slippage, it would be minimal. FBR Chairman........

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