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Pakistan holds talks with IMF

ISLAMABAD: Adviser to the Prime Minister on Finance, Revenue & Economic Affairs, Dr Abdul Hafeez Shaikh, along with the Sindh chief minister Sindh and finance ministers of Punjab, Khyber Pakhtunkhwa and Balochistan, held a joint meeting with the IMF Mission led by Ernesto Ramirez Rigo here on Saturday.

The participants exchanged views on the existing fiscal situation of the country in the context of the International Monetary Fund’s programme, which is currently under discussions, said a Finance Ministry press release said.

The IMF Mission was apprised that the federal and provincial governments were constantly engaged on fiscal matters and the National Finance Commission (NFC) and the Fiscal Coordination Committee (FCC) forums were being used for ensuring maximum cooperation and coordination among the federal and provincial fiscal authorities.

The provincial finance ministers apprised the Mission of various initiatives taken in their respective provinces for resource mobilization at the sub-national level to cater for the increasing developmental and social spending needs. They expressed that the revenues from taxation had witnessed marked improvement recently.

They also emphasized that they were managing their expenditures prudently for better fiscal outcomes. They assured the Mission that the provincial governments would support and complement the efforts of the federal government to adhere to the fiscal framework being discussed with the Fund.

The IMF Mission was encouraged by the shared thinking at the federal and provincial levels. The Mission leader appreciated the updates provided by the provincial governments.

He highlighted the importance of a harmonized system of taxation that would contribute towards increasing economic activities and business growth in the country.

The meeting was also attended by the senior officials of Finance Division as well as provincial finance departments–APP

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