In ongoing economic discussions with the International Monetary Fund (IMF), Pakistan’s Finance Ministry has been tasked to submit an updated report detailing losses of state-owned enterprises (SOEs) by December 2023. The IMF stressed the importance of precise and up-to-date data for relevant assessment, dismissing an earlier preliminary report due to its outdated information.
The Central Monitoring Unit (CMU), responsible for evaluating the losses of national institutions, has been critically examined as part of a wider effort to enhance data accuracy. The CMU is currently scrutinizing newly acquired SOE data and is expected to present an initial report promptly.
Furthermore, the IMF has called for a detailed projection of potential tax revenues from all sectors. The Federal Board of Revenue (FBR) has reiterated its commitment to meet its ambitious Rs. 9,415 billion tax collection target for this financial year, emphasizing fiscal responsibility.
This series of events underscores the necessity of current financial information in evaluating the fiscal health and performance of Pakistan’s SOEs. The IMF has also advised Pakistan to shift its primary deficit into a surplus, highlighting the significance of enhanced revenue collection to meet July’s Staff-Level Agreement targets.
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