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IMF will revive stalled bailout package in ‘a day or two’: Miftah

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Finance minister says govt will not withdraw income tax exemption announced for salaried class
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Finance Minister Miftah Ismail has expressed hope that the government would reach an agreement with the International Monetary Fund (IMF) to revive the stalled $6 billion programme within "a day or two".

He made the remarks while speaking to reporters at the Parliament House in Islamabad on Monday.

Responding to a question, Miftah said the IMF did not have any objection over the increase in the salaries of the government employees.

He also added that income tax exemption announced for salaried individuals will not be withdrawn and the government will shield those earning less than Rs1.2 million annually.

The finance minister said only the rich will be taxed while the poor will be given a relief.

The government is looking for new avenues to increase burden on the rich and may impose taxes on gifts, jack up rates for corporate sectors as well as allow unconditional import of gold to bring it into the tax ambit.

Other measures are also being considered to bridge gaps with the International Monetary Fund before the end of the month. The global lender still sees the government’s budget numbers unrealistic that require more taxation measures along with cuts in expenditures.

Also read: IMF hands list of demands for loan revival

The Finance Bill 2022-23 that Miftah Ismail tabled in the National Assembly on June 10 may undergo some major changes to raise maximum tax from the rich.

In addition to finding more sources of income to the satisfaction of the IMF, the government also wants to give a message to the less-privileged classes that the elite class is also paying more than their usual annual tax contribution, according to the sources.

Pakistan is halfway through a $6 billion, 39-month IMF programme that had stalled over the lender's concerns over the status of some of its objectives, including fiscal consolidation.

The next tranche that Pakistan is to receive upon a successful review is $900 million, and a green light from the IMF would also open up other global funding avenues.

PM annoyed over tax hike

The finance minister said that Prime Minister Shehbaz Sharif was angry over the tax hike and urged to reduce the tax burden on masses.

He said the government refunds of pharmaceutical companies will be reimbursed in the next four days.

He also revealed that during the last financial year only 14 to 15 kilogrammes were brought in the country through legal channel while whopping 80 tons of gold was being smuggled into the country every year.
 
Finance minister says govt will not withdraw income tax exemption announced for salaried class
View attachment 855451
Finance Minister Miftah Ismail has expressed hope that the government would reach an agreement with the International Monetary Fund (IMF) to revive the stalled $6 billion programme within "a day or two".

He made the remarks while speaking to reporters at the Parliament House in Islamabad on Monday.

Responding to a question, Miftah said the IMF did not have any objection over the increase in the salaries of the government employees.

He also added that income tax exemption announced for salaried individuals will not be withdrawn and the government will shield those earning less than Rs1.2 million annually.

The finance minister said only the rich will be taxed while the poor will be given a relief.

The government is looking for new avenues to increase burden on the rich and may impose taxes on gifts, jack up rates for corporate sectors as well as allow unconditional import of gold to bring it into the tax ambit.

Other measures are also being considered to bridge gaps with the International Monetary Fund before the end of the month. The global lender still sees the government’s budget numbers unrealistic that require more taxation measures along with cuts in expenditures.

Also read: IMF hands list of demands for loan revival

The Finance Bill 2022-23 that Miftah Ismail tabled in the National Assembly on June 10 may undergo some major changes to raise maximum tax from the rich.

In addition to finding more sources of income to the satisfaction of the IMF, the government also wants to give a message to the less-privileged classes that the elite class is also paying more than their usual annual tax contribution, according to the sources.

Pakistan is halfway through a $6 billion, 39-month IMF programme that had stalled over the lender's concerns over the status of some of its objectives, including fiscal consolidation.

The next tranche that Pakistan is to receive upon a successful review is $900 million, and a green light from the IMF would also open up other global funding avenues.

PM annoyed over tax hike

The finance minister said that Prime Minister Shehbaz Sharif was angry over the tax hike and urged to reduce the tax burden on masses.

He said the government refunds of pharmaceutical companies will be reimbursed in the next four days.

He also revealed that during the last financial year only 14 to 15 kilogrammes were brought in the country through legal channel while whopping 80 tons of gold was being smuggled into the country every year.
Muftah and his lolipops

At least general zia's lolipops of elections in 90 days were better
 
Finance minister says govt will not withdraw income tax exemption announced for salaried class
View attachment 855451
Finance Minister Miftah Ismail has expressed hope that the government would reach an agreement with the International Monetary Fund (IMF) to revive the stalled $6 billion programme within "a day or two".

He made the remarks while speaking to reporters at the Parliament House in Islamabad on Monday.

Responding to a question, Miftah said the IMF did not have any objection over the increase in the salaries of the government employees.

He also added that income tax exemption announced for salaried individuals will not be withdrawn and the government will shield those earning less than Rs1.2 million annually.

The finance minister said only the rich will be taxed while the poor will be given a relief.

The government is looking for new avenues to increase burden on the rich and may impose taxes on gifts, jack up rates for corporate sectors as well as allow unconditional import of gold to bring it into the tax ambit.

Other measures are also being considered to bridge gaps with the International Monetary Fund before the end of the month. The global lender still sees the government’s budget numbers unrealistic that require more taxation measures along with cuts in expenditures.

Also read: IMF hands list of demands for loan revival

The Finance Bill 2022-23 that Miftah Ismail tabled in the National Assembly on June 10 may undergo some major changes to raise maximum tax from the rich.

In addition to finding more sources of income to the satisfaction of the IMF, the government also wants to give a message to the less-privileged classes that the elite class is also paying more than their usual annual tax contribution, according to the sources.

Pakistan is halfway through a $6 billion, 39-month IMF programme that had stalled over the lender's concerns over the status of some of its objectives, including fiscal consolidation.

The next tranche that Pakistan is to receive upon a successful review is $900 million, and a green light from the IMF would also open up other global funding avenues.

PM annoyed over tax hike

The finance minister said that Prime Minister Shehbaz Sharif was angry over the tax hike and urged to reduce the tax burden on masses.

He said the government refunds of pharmaceutical companies will be reimbursed in the next four days.

He also revealed that during the last financial year only 14 to 15 kilogrammes were brought in the country through legal channel while whopping 80 tons of gold was being smuggled into the country every year.
Let us not count our chickens till they hatch. Let us wait and see.
A
 
.. an important win for Pakistan and PDM! :cheers:
 

PAKISTAN, IMF LIKELY TO HOLD TALKS FOR STAFF-LEVEL AGREEMENT TONIGHT​


ISLAMABAD: Pakistan and International Monetary Fund (IMF) are likely to hold talks to reach a staff-level agreement under the Extended Fund Facility Arrangement, tonight, ARY News reported, citing well-informed sources.
Sources within the Finance Ministry said talks with the IMF can be held online tonight, in which Pakistani officials will brief the fund about so far actions taken by Islamabad for the revival of the economy.
The IMF fund would be briefed that subsidy on the fuel has been completely taken back by the federal government, the sources said and added Pakistan to soon get ‘good news’ from IMF.

Read more: Increase in fuel prices has nothing to do with IMF: Miftah Ismail
Earlier, Finance Minister Miftah Ismail asserted that the increase in prices of petroleum products has nothing to do with International Monetary Fund’s (IMF) conditions.
Miftah Ismail expressed his views while briefing the federal cabinet meeting chaired by Prime Minister Shehbaz Sharif. During the meeting, he rejected the notion by Pakistan Tehreek-e-Insaf (PTI) that fuel prices were increased to revive IMF programme.
The federal minister said that the global lender had not demanded to increase the fuel prices, but it was a result of global inflation.
 
One more day to go.

Pakistan secures much-awaited deal with IMF​


 

Pakistan secures much-awaited deal with IMF​



More loans for beggars.
 

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