IMF Engages with Pakistan’s Business Community on Economic Reforms

Karachi, Pakistan – A delegation from the International Monetary Fund (IMF), led by Iva Petrova, Head of Mission to Pakistan, and Mahir Binici, Resident Representative, recently concluded meetings with key business stakeholders in Pakistan to discuss the nation’s economic outlook and potential reforms. The discussions centered on macroeconomic stability, export-led growth, taxation measures, and the perspectives of foreign investors.

Focus on Tax Rationalization and Investment

Meetings were held with representatives from the Pakistan Business Council (PBC) and the Overseas Investors Chamber of Commerce and Industry (OICCI). The PBC, led by Chairperson Dr. Zeelaf Munir, emphasized the need for stabilization measures to translate into increased investment, productivity, and employment generation. With the State Bank of Pakistan’s (SBP) policy rate at 10.5 percent and a primary surplus recorded, the discussion focused on structural measures to restore private-sector confidence.

Calls for ‘Super Tax’ Abolition

A key demand from both the PBC and OICCI was the abolition of the “super tax,” which they argue places a disproportionate burden on compliant businesses. Dr. Munir specifically called for the complete removal of the super tax, a phased reduction of the corporate tax rate to 25 percent, and a rationalization of advance and withholding tax regimes. These taxes, they contend, act as de facto minimum taxes, hindering export expansion and industrial scaling.

Transitioning to Sustainable Growth

OICCI President Yousaf Hussain stressed the importance of transitioning from macroeconomic stabilization to a sustained, export-led growth path. He highlighted the need for a centrally coordinated, medium-term reform program under a comprehensive National Economic Plan. Such a plan should integrate fiscal, trade, industrial, energy, and human capital policies with clear milestones and transparent monitoring.

Geo-Economic Potential and Policy Coherence

OICCI Secretary General M. Abdul Aleem pointed to Pakistan’s strong geo-economic positioning as a significant opportunity. He argued that unlocking this potential requires greater policy coherence, predictability, and investment-focused improvements to the regulatory framework.

IMF Remains Silent on Discussions

Notably, official statements released by both the PBC and OICCI did not detail the IMF team’s responses or commitments during these discussions.

Published in Dawn, March 1st, 2026