According to a release from the IMF, a staff-level agreement has been reached with Pakistan for a 37-month Extended Fund Facility Arrangement (EFF) of about USD 7 billion. With the EFF, Pakistan has agreed to reforms to broaden its tax base and remove exceptions. This includes that revenue collections will be supported by simpler and fairer direct and indirect taxation, including by bringing net income from the retail, export, and agriculture sectors properly into the tax system. Further, the provinces will take steps to increase their own tax-collection efforts, including sales tax on services and agricultural income tax. All provinces...