IMF Loan: Another round of talks ended fruitless, sources

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According to sources, Another round of talks for International Monetary Fund or IMF loan ended fruitless.

Latest IMF loan talks between Pakistan and International Monetary Fund ended without any conclusion. However, both sides failed to reach on any consensus for IMF bailout.

Earlier IMF asked the Pakistani government to take new measures on the taxation front. However, International Monetary Fund urged the country to enhance its revenue collection on the short term basis.

International Monetary Fund Director Communications Department Gerry Rice said that discussions with Pakistan are still in progress towards the reforms of economy stabilization and the understanding on policy priorities. Gerry Rice briefed that their staff is in continuous discussion with Pakistani officials.

Teresa Daban Sanchez, IMF Resident Chief in Pakistan said that they were still assessing. He said that their understanding is that it should include taxes, regulatory and administrative measures aimed at lifting distortions that could enhance the activities of private sector. He further added that additional actions are required for the higher collection of revenue in the short time frame.

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