Pakistan should treat foreign investors professionally: IMF

Islamabad: The International Monetary Fund (IMF) has demanded that Pakistan treat foreign investors professionally.

Negotiations were held with the IMF mission on the Federal Bureau of Revenue (FBR) revenue shortfall, the National Fiscal Pact, the circular debt of the energy sector and the financial sectors, and the IMF expressed reservations. The reforms in the track and trace system, retailers' scheme, and SOEs were also part of the negotiations.

The IMF mission has been assured of implementing the set targets.

According to reports, the IMF has demanded a workout on the Special Economic Zones and that tax exemption in the Special Economic Zones should be abolished and uniform merit should be established for investors.

The IMF also said that equal merit should be established with all countries investing in Pakistan, and equal services should be provided to all, including Gulf and European countries.

It is also reported that the IMF mission will meet SIFC officials on November 15, while an important report on Special Economic Zones will be submitted to the IMF a day later.