IMF spots breach of Rs 2tn in Pakistan budgetary estimates – Times of India

ISLAMABAD: Ahead of its crucial talks with the cash-strapped Pakistan government, the IMF has found an over Rs 2,000 billion (Rs 2 trillion) breach in budgetary estimates for 2022-23 in its initial assessment that might result in escalating the budget deficit and primary deficit targets with a massive margin.
Pakistan and the International Monetary Fund (IMF) officials are scheduled to kick-start parleys from Tuesday for accomplishing the ninth review under the Extended Fund Facility during which the fiscal slippages and reconciliation of figures will be the major topic of discussion. The review would lead to the release of the next tranche of funds to Pakistan which has been pending since September.
According to sources quoted by The News, the IMF is currently asking Pakistani authorities to take additional taxation measures worth Rs 600 billion through a mini-budget. The sources told the newspaper that Pakistani authorities did not agree to it, and argued that the primary deficit would not escalate up to such an extent at all. pti