Pakistan achieves 25 out of 26 IMF targets

Islamabad: The implementation of 25 out of 26 International Monetary Fund (IMF) targets for the Second Economic Review has been completed, reportedly.

According to the media reports, the Ministry of Finance has sent the report on the implementation of the targets to the IMF.

It has been found in the reports that the amendment of the Pakistan Society of Actuaries (SOA) law and the implementation of the amendment law have not been completed. The law of National Highway Authority (NHA), Pakistan Post and Pakistan Broadcasting Corporation has not been amended.

Reports suggest that the condition of not getting loan for the government from the central bank and timely payment of external payments has been fulfilled.

The arrears of the power sector, including tax revenues and refund payments, have been cleared on time, while the condition of not giving tax exemption and tax amnesty has also been fully implemented, added the reports.

The rate of 1.25 percent in currency exchange between the interbank and open market is being implemented while the condition of rebasing the electricity rates and increasing the price of gas has also been implemented in a timely manner, continued media reports.

The review of the target implementation report will be completed by the IMF mission before its arrival.