Aurangzeb warns non-filers of ‘restrictions’ as Pakistan clinches $7bn IMF deal

Finance Minister Muhammad Aurangzeb has issued a warning to non-filers about strict restrictions that will limit their ability to conduct various activities. Pakistan has secured a $7 billion loan from the IMF, with the first tranche of $1.1 billion expected by September 30, 2024. The interest rate on the loan is less than 5%, and the IMF may disburse the second installment within the fiscal year. The government has implemented economic reforms, including broadening the tax net, to stabilize the economy. Restrictions targeting non-filers have been announced by the Federal Board of Revenue. The government is focused on documenting the economy and promoting private sector development. Prime Minister Shehbaz Sharif has met with the IMF managing director to discuss the loan agreement and strengthen cooperation for economic stability and growth.