ISLAMABAD - Pakistan and the International Monetary Fund (IMF) Wednesday agreed on several points, including an increase in power tariff by two per cent every month for next three months (April-June), imposition of 15 per cent flood surcharge and a 1.5 per cent increase in the Special Excise Duty. Pakistan and the IMF held the third round of policy-making dialogue on the day, and Islamabad assured the international donor that it would increase the power tariff by two per cent every month in April-June period of the ongoing fiscal year in order to reduce the power subsidies. Meanwhile, the government would take several steps to increase the revenue collection in the last quarter (April-June) of the 2010-11. The government would impose 15 per cent flood surcharge and increase the Special Excise Duty by 1.5 per cent to generate Rs 26 billion in three months from April, sources informed TheNation. The government assured the IMF team to keep tax collection target at Rs 1604 billion for the ongoing fiscal year with the proposed revenue generation measures. Meanwhile, the government assured the IMF that it would introduce the Reformed General Sales Tax (RGST) from the next fiscal budget 2011-12. However, during the remaining period of the ongoing fiscal year, the government would minimise tax exemptions by issuing SROs and notifications. Federal Board of Revenue (FBR) Chairman Salman Siddique has already said that the government would increase General Sales Tax to 16 per cent from the existing 8 per cent. According to FBR officials, the government is facing a Rs 2 to 3 billion monthly loss due to the cut in the GST on sugar. Sources said that if successfully implemented, the measures might get Pakistan the Letter of Comfort (LoC) from the IMF important for getting budgetary support from other international donors, including the World Bank and the Asian Development Bank among others. The negotiations between Pakistan and the IMF would continue for two days (Thursday and Friday), and talks would be held for fixing budget deficit and other economic measures.