An IMF mission will hold talks with Pakistani officials on Fourth Review of its $11.32 billion Stand-By Arrangement (SBA) in the first week of February, says an official. "The talks will focus on overall economic review, and how the country is meeting the balance of payments requirements for the current fiscal year, ending on June 30, 2010", an official said.

Pakistan's side will brief on eliminating energy subsidies, preparation for enforcing value-added tax (VAT), all government funds to be transferred to single treasury account, and enforcing electronic sales tax refund system. This review will be based on end-December performance of the government and, on successful completion of the talks, the country is likely to get $1.2 billon by April, after IMF Board approval. The last disbursement of $1.2 billion was made on end-December 2010 after completion of the third program review. Disbursements under the program, thus far, amount to $6.5 billion.

Copyright Business Recorder, 2010