The International Monetary Fund (IMF) demanded on Tuesday Pakistan take further steps during the recent economic review discussions.
The IMF delegation urged the government to implement timely right-sizing measures to reduce expenditures. Furthermore, the delegation insisted that the country address the tax revenue shortfall of over 600 billion rupees.
According to the IMF team, these actions were critical for maintaining fiscal discipline and stability in the economy. "We have emphasised the need for the government to bridge the revenue gap and ensure the necessary fiscal measures are undertaken," an IMF official said.
The delegation also requested a detailed plan from Pakistan to cover the revenue shortfall in the upcoming quarter.
The IMF team had also highlighted the importance of expanding the tax net, particularly by targeting large retailers in major cities such as Islamabad, Karachi and Lahore, who were still outside the reach of the tax system.
In a briefing, the IMF delegation emphasised the urgency of addressing high-risk cases for tax recovery in these areas.
The discussions also touched on Islamic banking initiatives and procedural frameworks.
Senior officials from the State Bank of Pakistan participated in talks regarding the transition of refinancing schemes and the development finance mechanism.
Additionally, the IMF delegation assessed the external sector and the current situation of the foreign exchange market in the country.
The outcomes of the talks were seen as crucial for Pakistan's future economic stability.
