ISLAMABAD: International Monetary Fund (IMF) has reviewed Pakistan’s performance under its ongoing programme, with the country successfully meeting 13 out of 17 structural and quantitative targets, according to sources in the Ministry of Finance.
Sources said that four targets could not be achieved. Of these, two were missed under the December 2025 timeline, while data for the remaining two could not be submitted on time.
Officials added that the Federal Board of Revenue (FBR) failed to meet key objectives, including expanding tax collection from retailers and adding 500,000 new tax filers to the system.
The IMF mission has reportedly submitted its review report to the Executive Board, with approval of the next tranche expected soon. Pakistan is likely to receive approximately $1.2 billion in the next installment by May 2026, sources said.
On the macroeconomic front, the State Bank of Pakistan successfully met its target for net international reserves, while net domestic assets remained within the prescribed limit of Rs 15,016 billion.
Budgetary discipline indicators also remained largely on track, including primary fiscal deficit targets and provincial tax collection goals of Rs 568 billion, which were reportedly achieved.
Sources further stated that government borrowing from the central bank remained at zero, while external payment arrears, tax refunds, and power sector circular debt obligations were kept under control.
Looking ahead, authorities face a deadline of June 2026 to meet 17 additional key economic targets. The net foreign exchange reserves target has been revised to negative $4.4 billion, while the fiscal deficit is projected to be capped at Rs 3,156 billion for the current financial year.
The government has also committed to reducing the budget deficit further to Rs 2,978 billion by March 2027, increasing income tax returns by 1 million, and limiting government guarantees to Rs 5,800 billion as part of broader fiscal consolidation efforts.
