Pakistan: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Pakistan
IMF Staff Country Reports, December 23, 2019
Source details
- Canonical URL
- Pakistan: First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Pakistan
Other formats
Bibliographic details
- Published: December 23, 2019
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513523880.002
Executive summary and program status
- Pakistan’s program is on track and has started to bear fruit.
- Risks remain elevated.
- Strong ownership and steadfast reform implementation are critical to entrench macroeconomic stability and support robust and balanced growth.
Key findings
- The authorities are committed to sustaining the progress on fiscal adjustment to place debt on a downward path.
- The authorities have adopted a comprehensive plan to address the accumulation of arrears in the power sector; its full implementation is key to:
- improve collection,
- reduce losses, and
- enhance governance.
- Timely and regular adjustment of energy tariffs will bring the sector in line with cost recovery.
Planned reforms and policy recommendations
- Strengthen tax revenue mobilization, including the elimination of tax exemptions and loopholes.
- Implement prudent expenditure policies.
- Start preparations for a comprehensive tax policy reform early to ensure timely implementation.
- Fully implement the comprehensive plan for power-sector arrears and ensure tariff adjustments consistent with cost recovery.
Subjects and keywords (as listed)
- Subjects: Budget planning and preparation, External debt, Public debt, Public financial management (PFM), Revenue administration, Tariffs, Taxes
- Keywords: Asia and Pacific, Budget planning and preparation, CR, economic reform reform program, exchange rate, Global, government, government effort, implementation, ISCR, Pakistani authorities, private sector investment, reform implementation, reform of the state-owned enterprise sector, SDR, Tariffs
Content in this bundle
- 1. Recent Revenue Performance