Prime Minister Shehbaz Sharif appreciates MD IMF for considering economic realities of Pakistan.
ISLAMABAD: (UrduPoint/Pakistan Point News-June 24th, 2023) Prime Minister Shehbaz Sharif reiterated Pakistan's commitment to complete the program with the International Monetary Fund.
Talking to Managing Director IMF Kristalina Georgieva in Paris, he appreciated MD IMF for considering economic realities of Pakistan. He said Pakistan is determined to fulfill its all commitments.
The Prime Minister said Pakistan values the world's support to overcome its severe economic challenges.
He said floods last year increased the troubles for the country but the government provided relief to its people. He said government desires to maintain balance between people's relief and economic realities of the country.
He said inevitable measures will have to be taken to overcome the economic crisis of the last four years.
Shehbaz Sharif assured the Managing Director that Pakistan will continue to fulfill its commitment with international community.
The Managing Director appreciated the commitment of Prime Minister Shehbaz Sharif for Pakistan.
Pakistan to raise Rs215b in new tax for revival of IMF deal:
Finance Minister Ishaq Dar on Saturday expressed the confidence that the ninth review with the International Monetary Fund under the extended fund facility will soon be concluded.
Winding up discussion on the budget 2023-24 in the National Assembly today, he recalled that the country demonstrated complete compliance on all prior actions but due to the gap on external financing, it could not be materialized. He, however, said Prime Minister Shehbaz Sharif held two meetings with the Managing Director of IMF in Paris recently during which it was agreed that both the sides will make a last ditch effort to complete the pending review.
The Finance Minister said both sides held consultations over the last three days. He said we have agreed to take additional taxation measures of 215 billion rupees, clarifying that it will not burden the poor people. Similarly, he said we have agreed to reduce current expenditures by 85 billion rupees.
He made it clear that this reduction will not affect the annual development plan as well as salaries and pensions of government employees. He said the IMF has agreed to our stand.
The Finance Minister said we believe in complete transparency and that is why the details of the meetings with the IMF are being shared with the public.
He said once the agreement is reached with the IMF, it will also be uploaded on the website of the finance ministry.
Ishaq Dar said as a result of the understanding reached with the IMF, he said the annual FBR tax collection target is being enhanced from 9200 billion rupees to 9415 billion rupees.
The total outlay of the budget will now be 14480 billion rupees. He was confident that these measures will also help reduce the fiscal deficit.
The National Assembly today approved 97 demands for grants pertaining to various ministries and their attached departments for the next fiscal year.
Finance Minister Ishaq Dar moved the demands for grants.
