Pakistan to Share Pension-Related Plan with IMF

The federal government is working on a plan related to pension expenses, on the demand of the International Monetary Fund, sources have told ProPakistani. Sources said that talks will be held with the IMF over making pension expenses bearable for the country. IMF’s next package will be based on tax reforms and an increase in tax revenue. Sources further said that the government will likely have to review the 18 percent general sales tax (GST). Sources added that the State Bank of Pakistan (SBP) will set up a platform for spot transactions. Similarly, a new agenda will be formulated for companies that run captive power plants. Sources further said that the mounting circular debt can have serious repercussions for the country and there is a need to bring parity in payments to power companies and consumer bills.