by m.a.sohail
Federal Finance Minister Ishaq Dar (Ishaq Dar) says the government and the economic team are working hard on the deal. At the ninth review session, the IMF held a constructive discussion with Pakistan.
Briefing the media in Islamabad about the 9th Review Talks between Pakistan and the International Monetary Fund (IMF), Finance Minister Ishaq Dar said that the PTI government has signed an agreement with the IMF. , negotiations with the IMF mission were completed, the last round of negotiations with the IMF was yesterday, Thursday, February 9.
He announced that the last round of negotiations with the IMF was over, everything was mutually agreed and he asked the IMF to provide us with a Memorandum on Economic and Financial Policy (MEFP) document. Go ahead, once agreement is reached the IMF must be informed as per the procedure, the MEFP proposal was accepted this morning after talks with the IMF, now there will be a virtual meeting on Monday to move things forward. He will take it.
The government will have to raise taxes worth 170 billion rupees.
A mini-budget must be created to collect new taxes.
Loans based on the contract were increased by 70%.
Now we will see the questions of decree or law in this regard.
This 170 billion rupees is to be completed in this financial year.
The current government will continue the agreements made with the IMF.
Pakistan Prime Minister Mian Muhammad Shahbaz Sharif also assured the IMF of implementation. Pakistan to complete IMF program.
Finance Minister also said that it is our need to reduce electricity and gas losses, in last 5 years from 24th economy to 47th economy, now there is no ambiguity in things, we will try to make Pakistan in history. Complete the MMF program a second time.
In this regard, the Benazir Income Support Program budget will be increased from 360 billion to 400 billion rupees.
Revolving debt must also be zeroed out in the gas sector.
Efforts will be made to avoid directly burdening the poor.
They will follow what the cabinet decides.
We have achieved the petrol levy target which was up to 50 but the diesel levy will need to be increased.
On this occasion, he announced that Pakistan is expected to receive $1.2 billion after IMF review, the circular debt in the gas sector is also to be stopped, these targeted subsidies will be minimized, gas circulars. The data flow should also be reset.
IMF DEAL
Ishaq Dar said this is a program signed by Imran Khan government, it is an old agreement which has been postponed several times, we are trying our best to fulfill the agreement, prime minister for some reasons, Lahore. I was there, we had a zoom meeting, the government and the economic team are working hard on the deal.
The oil development fee on diesel will increase from 40 to 50, while the general sales tax numbers will also move back and forth. GST includes 170 billion in taxes.
To a question from LC, Ishaq Dar said that if five to seven billion dollars comes, all the business will start.
The levy on the prices of petroleum products will be increased by five rupees.
Sales tax is not collected on petroleum products.
1.2$ billion is expected
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