Federal Finance Minister Ishaq Dar says that some reforms of the IMF are in favor of Pakistan, a mini budget will have to be brought, taxes of 170 billion will have to be imposed, Pakistan is expected to get 1.2 billion dollars after the IMF review. .
Federal Finance Minister Ishaq Dar while giving details regarding the visit of the IMF mission to Pakistan said that the last round of negotiations with the IMF was held yesterday, Pakistan and the IMF have agreed on many issues.
He says that the current government will proceed on the program made by the IMF, the IMF has provided the Memorandum of Economic and Financial Policy.
Finance Minister Ishaq Dar said that Prime Minister Shehbaz Sharif has also assured the IMF of implementation, these reforms are the need of Pakistan.
He said that reducing losses of electricity and gas is our need, all relevant institutions and ministries have worked together, Pakistan will complete the IMF program.
The Federal Minister of Finance says that it has been agreed with the IMF to impose new taxes of 170 billion rupees and to stop the revolving debt in the energy sector, to stop further increase in the revolving debt in the gas sector.
He says that the Shehbaz government is implementing Imran Khan’s agreement with the IMF, the government and the economic team are struggling to implement the agreement, energy and other financial issues from the IMF. Extensive negotiations took place.
Ishaq Dar said that petroleum, FBR, power sector mentioned their road map in talks with IMF, everything was mutually agreed till last night, later Prime Minister Shahbaz Sharif as per requirement. The IMF mission chief, country representative and economic team held a Zoom meeting.
He said that the Prime Minister also said that he will follow the agreement with the IMF. After the agreement is reached, detailed documents must be given to the IMF according to the procedure. He told the IMF that MEFP’s Give us the document, we received the draft MEFP today at 9 am.
The finance minister says that there are some sectors that need reforms, 5 years of economic collapse and bad governance created difficulties, we had prepared ourselves for 10 days of dialogue, the IMF team. This morning has gone back, now there will be a virtual meeting with the IMF on Monday.
He said that targeted subsidies will be reduced, revolving credit in the gas sector is to be zero, reforms in the energy sector will be fixed.
Ishaq Dar further said that in the last 5 years the economy from 24th rank was brought to 47th rank, 40 billion more relief will be given under BISP, mini budget will have to be brought, whether in the form of bill or not. In case of Ordinance.
The Federal Finance Minister also said that the levy will be increased by 5.5 rupees in the prices of petroleum products, while sales tax will not be imposed on them. The IMF has agreed not to impose sales tax on petroleum products.
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