The True Post (Web News) – Several important points regarding economic reforms and transparency have come under discussion in the ongoing talks between the government of Pakistan and the International Monetary Fund (IMF) in Islamabad.
According to the report, the federal government has decided that special funds will be used for the rehabilitation and assistance of flood victims. In this regard, emergency funds of Rs 389 billion are being approved with the permission of the IMF, under which the Prime Minister will introduce a relief package.
According to sources, the initial estimate of the flood losses in Khyber Pakhtunkhwa was Rs 40 to 50 billion, however, the final estimate has been kept at around Rs 30 billion. The Sindh government initially estimated the losses at Rs 40 billion. The talks are being held on budget surplus, details of losses, recovery and rehabilitation plans. The talks with Punjab will be held today as per the schedule.
Furthermore, the IMF has conducted a detailed review of the proposed relief package for flood victims and has directed provincial governments to provide final damage data as soon as possible so that funds can be distributed effectively.
Sources say that the IMF has demanded the immediate publication of the “Diagnostic Assessment Report” on corruption and malpractice, however, the Ministry of Finance has requested more time for the publication of the report. In this regard, the IMF was briefed on reforms in the FBR and measures related to politically influential persons, while some amendments have also been requested in the report.
Sources also revealed that the IMF has demanded full institutional autonomy for the Auditor General of Pakistan. Along with this, there was a demand that tax policy be separated from the jurisdiction of the FBR to improve transparency and efficiency between policy making and implementation.
According to experts, these talks will not only set the direction for economic reforms for Pakistan, but will also advance the process of restoring transparency and trust in government institutions.
