Negotiations on farm income tax have begun between a government economic team and the International Monetary Fund (IMF) as part of an ongoing economic evaluation of a $7 billion loan package.
Members of the Federal Board of Revenue (FBR), the Ministry of Finance, and provincial authorities are attending the World Bank headquarters where the talks are being held.
Changes to the Sovereign Wealth Funds Act and its implementing rules will also be discussed.
The IMF delegation will discuss circular debt and rate rebasing with representatives from the Ministry of Energy and the National Electric Power Regulatory Authority (Nepra).
The talks, which started this week, are crucial, according to sources. The IMF group is anticipated to make additional ideas and criteria this week. The next loan tranche will be made available if these terms and suggestions are approved.
