Islamabad, Aug. 6 -- Pakistan has missed out on three of its five major fiscal conditions set by the International Monetary Fund (IMF) for the second review of its USD 7 billion bailout package, The Express Tribune reported.

According to The Express Tribune, the shortfall is attributed to provinces failing to generate the expected cash surpluses and the federal government falling short of tax collection targets.

However, the Pakistani government expects that it would face minimal obstacles during its next month's review talks for the release of the next USD 1 billion tranche.

A fiscal operations summary from the Pakistani Ministry of Finance revealed that the provinces were unable to save the targeted PKR 1.2 trillion in the last fisca...