Pakistan to Receive Much-Needed IMF Loan by Mid-July

An emergency meeting of the International Monetary Fund (IMFinance) is expected to approve the loan in mid-July. Sources have said that the tax incentives given in the Finance Bill 2022 will be withdrawn, as authorities have told Pakistan’s Inter-Parliamentary Union (IPU).

The International Monetary Fund (IMF) is seeking documentary evidence that the Pakistan government intends to end tax incentives and increase tax rates. The IMF’s Resident Representative, Esther Perez Ruiz, released a statement in response to rumors about the IMF asking Pakistan to renegotiation the contracts of the China-Pakistan Economic Corridor (CPEC) Independent Power Producers (IPPs).

It said: These claims are simply untrue. The IMF supports the government’s multipronged strategy to restore energy sector viability.