What has been decided so far in the negotiations between Pakistan and the IMF?

After the completion of technical talks between Pakistan and IMF officials, policy talks are ongoing and a breakthrough has not yet taken place, but officials are hopeful that a staff-level agreement can be reached in the next 48 hours.

The International Monetary Fund (IMF) mission has been in Pakistan for the past week and is negotiating with officials from various departments for the ninth review. By Monday, the technical negotiations were completed and the round of policy negotiations has begun.

What is the difference between policy and technical negotiations?

Speaking to Urdu News, Mehtab Haider, a senior journalist who reports on economic issues, said that 'in technical negotiations, the data of different departments is basically shared with the IMF and future estimates are also made in this regard. But the agreement of both sides is necessary.

"This is followed by policy-level discussions in which measures are proposed to resolve the issues."

What has been decided so far?

According to Mehtab Haider, "many things have been decided so far in the talks between the IMF and the Pakistani authorities, but there is still no consensus on some things, especially regarding petroleum and energy prices. Not satisfied, but the things agreed upon are also important.'

Restriction on disclosing assets of officers

Pakistan has made it mandatory for government officials to declare their assets, implementing the IMF condition.

According to the notification issued by the Federal Board of Revenue (FBR), the tax collection agency in Pakistan, 'all government officials from grades 17 to 22 and their families are required to declare their assets in India and abroad. has been made.'

The FBR notification states that all banks will be obliged to provide account details of government officials and their families to the FBR. Banks will provide these details to FBR twice a year on 31st January and 31st July.

NAB and FIA reforms

According to economic analyst Shehbaz Rana, "On the request of the IMF, Pakistan has agreed to amend the laws related to NAB and FIA." Done to make sure.'

In this regard, the Pakistan Task Force established at the request of the IMF has prepared a draft of amendments according to which the scope of NAB and FIA will be clarified and separated. The efficiency of both the departments will be increased and the accounts of the government departments will be able to be reviewed.

Increase in electricity, gas and petrol rates

According to Mehtab Haid, Pakistan's Prime Minister Shehbaz Sharif has approved an increase in electricity rates from four to ten rupees and general sales tax from 17 percent to 18 percent on the request of the IMF. MF is demanding further increase in electricity rates.'

He says that another major demand of the IMF is to increase the current petroleum levy on diesel from Rs 40 to Rs 50. Apart from this, the government has been demanded either to increase the levy further or to impose GST on petroleum products, however, Pakistan has not yet agreed to it.

The negotiations between Pakistan's economic team and the IMF mission are to be completed by February 9, however, according to economic experts, the date can be further extended if necessary.