02323cas a2200241 a 4500 AALejournalIMF016116 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513523880 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Middle East and Central Asia Dept. Pakistan : First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for Pakistan. Washington, D.C. : International Monetary Fund, 2019. 1 online resource (91 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper discusses Pakistan's First Review Under the Extended Arrangement Under the Extended Fund Facility and Request for Modification of Performance Criteria. Pakistan's program is on track and has started to bear fruit. However, risks remain elevated. Strong ownership and steadfast reform implementation are critical to entrench macroeconomic stability and support robust and balanced growth. The authorities are committed to sustaining the progress on fiscal adjustment to place debt on a downward path. The planned reforms include strengthening tax revenue mobilization, including the elimination of tax exemptions and loopholes, and prudent expenditure policies. Preparations for a comprehensive tax policy reform should start early to ensure timely implementation. The authorities have adopted a comprehensive plan to address the accumulation of arrears in the power sector. Its full implementation is key to improve collection, reduce losses, and enhance governance. Timely and regular adjustment of energy tariffs will bring the sector in line with cost recovery. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2019/380 Full text available on IMF http://elibrary.imf.org/view/journals/002/2019/380/002.2019.issue-380-en.xml IMF e-Library