Govt mulls measures to improve revenues, end rupee volatility ahead of IMF meet

The government is grappling with the issue of collecting additional revenues to make up for declining tax collections amid the slowing national economy so that the International Monetary Fund (IMF) could be brought to the table for the completion of the 9th review under the ongoing extended fund facility (EFF) and ensure foreign exchange inflows from other multilateral lenders as well. Finance Minister Ishaq Dar on Monday had separate meetings with State Bank of Pakistan (SBP) Governor Jameel Ahmad to discuss matters relating to the exchange rateand higher-than-targeted profit from the central bank and provincial governments to remove irritants to harmonisation of general sales tax (GST) on a national level. The meeting between the finance minister and SBP governor is also believed to have discussed matters relating to the manipulation of exchange rates by banks in recent months and the way forward on punitive actions and course corrections.