Ongoing IMF Review: FBR Blames Mideast Conflict for Revenue Shortfall

The International Monetary Fund (IMF) team is currently in Pakistan for the fourth quarterly review of the $7 billion Extended Fund Facility (EFF) and the third review of the $1.4 billion Resilience and Sustainability Facility (RSF), alongside Article IV consultations. The Federal Board of Revenue (FBR) blames the Middle East conflict for slowing economic activity and negatively impacting revenue collections, particularly import taxes. The Fund is also seeking the already agreed 174 legislative amendments and questioning petrol subsidies, which further narrow fiscal space. Pakistan's continued participation in the IMF program is critical for securing over $11 billion in annual rollovers from China and Saudi Arabia. The outcome of these crucial discussions will be key for the Rupee's stability and local gold price trends.

بحوالہ / Source: www.brecorder.com