ISLAMABAD(National Times)- The International Monetary Fund (IMF) has sought a comprehensive emergency economic plan from Pakistan in light of the prevailing regional situation. According to sources in the Ministry of Finance, the Ministry of Finance, Ministry of Energy and Ministry of Commerce will jointly prepare a plan outlining emergency measures in response to regional tensions for submission to the IMF. The Fund has emphasized accelerating ongoing reforms for sustainable economic growth and taking more effective steps to enhance tax collection. Sources said officials of the Federal Board of Revenue (FBR) briefed the IMF on the reasons behind the shortfall in achieving tax targets. It has been termed difficult to meet the revised target of Rs13,979 billion set for the current fiscal year. The IMF delegation was also briefed on a report regarding proposed amendments to the Public Procurement Regulatory Authority (PPRA) Rules 2004.

Pakistan, IMF launch key economic review talks in Islamabad

The delegation was informed about measures ensuring access to procurement data for the Competition Commission of Pakistan (CCP), National Accountability Bureau (NAB) and the Auditor General. According to sources, public procurement under the e-PAD system will be further expanded and updated across the federation and three provinces. Discussions were also held on decisions taken under the rightsizing committee, expected financial savings and structural changes in government institutions. Officials stated that by the end of 2025, a total of 54,000 government positions will have been abolished, resulting in an estimated annual saving of Rs56 billion. Sources in the Ministry of Finance further said that virtual meetings between the IMF delegation and provincial authorities are also scheduled today.