February 12, 2020 (MLN): Talks between the IMF and the government concluded with the understanding that there will be no mini budget and no new taxes before June.

However, the tax collection target for FY20 has not be revised down and the government has agreed to make all out efforts to achieve the target with the focus on non-tax revenue which will require the government to speed up the privatization process and raise Rs. 400 billion from it.

Moreover, Sales tax will remain at 17 percent.

Pakistan has achieved most of the targets agreed with the IMF showing satisfaction over the current account and fiscal deficit.

The government has agreed to provide a road map of losses and deficit to IMF.

The finance ministry and the IMF will issue separate statements over the parley.

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