Pakistan’s PM Shehbaz ready to explode tax bomb on public for IMF, new taxes worth 215 billion rupees will be implemented
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Shahbaz Sharif reached Paris
“Detailed talks have taken place between Pakistan and the IMF as a last ditch effort to complete the pending review,” Dar told lawmakers on Saturday. He said that for the financial year starting next month, the government will impose a new tax of Rs 215. Along with this, it will cut the expenditure by 85 billion rupees. He said that along with this, many more measures will also be taken to reduce the fiscal deficit. On Friday, Pakistan’s Prime Minister Shehbaz Sharif met IMF chief Kristalina Georgieva in the French capital Paris. This announcement was made by the Finance Minister only a day after that meeting.
Program ending on June 30
In the year 2019, the Extended Fund Facility (EFF) of the IMF is ending on 30 June. There is only one week left in this. In February this year, there was a meeting for the ninth review between the IMF and the Government of Pakistan for the debt relief program. The review meeting for the $6.5 billion loan ended without any result. Pakistan has been trying to get the aid amount of $ 1.1 billion since November 2022. Dar said that Pakistan has agreed to impose new taxes worth Rs 215 billion.
assured once again
The agreement was reached after three days of talks with IMF officials to complete the 9th review under the EFF. Dar told the MPs that the government is taking forward the talks with the IMF with all sincerity. He once again assured that as soon as everything is finalized with the IMF, all the details of the agreement will be made public on the official website of the Ministry of Finance.
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