Commerce Reporter, Daily Dawn, Dawn TV Report
ISLAMABAD: Pakistan has met only two of the five key IMF financial conditions and failed to meet three conditions. These were set by the IMF for the second review of the $7 billion bailout package.
All four provinces violated the condition of generating a cash surplus of Rs1.2 trillion during the fiscal year ending in June, and the federal government has not met its two conditions of collecting a total of Rs12.3 trillion in receipts and Rs50 billion from retailers under the Tajir Dost scheme.
Review talks for the release of the $1 billion tranche are expected to begin next month due to the overall implementation of key conditions. The IMF has set about 50 conditions under the $7 billion bailout package. Some of these are monitored on a quarterly and annual basis.
According to the ongoing summary, the government has been able to achieve relative fiscal stability, but official figures show that the federal government’s net revenue is still Rs1.2 trillion short of the requirements for just two sectors: interest payments and defense spending.
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