BusinessNegotiations with the IMF will resume today

Negotiations with the IMF will resume today

Talks between Pakistan and the IMF will resume today after a two-day break.

Measures to reduce the revenue and expenditure shortfall will also considered in the talks tomorrow.

Finance Ministry sources say that matters will settled by February 9.

IMF has demanded GST from 17 to 18%, flood levy, tax on bank profits, reduction in development expenditure and end of subsidy on electricity, gas.

Policy-level talks between Pakistan and the International Monetary Fund will resume from Monday.

Sources say that the technical talks between Pakistan’s economic team and the International Monetary Fund completed today (Friday).

Read also: Tough decisions are inevitable for the IMF agreement

The two sides reportedly discussed a number of issues including raising the GST rate to 18% to collect more tax and auditing state-owned enterprises (SOEs).

The two sides also discussed issues related to debt servicing, which could reach Rs 5.2 trillion in the current financial year 2022-23.

In addition, the IMF, during technical discussions, asked Pakistan to withdraw non-budgetary electricity subsidies for exporters and other sectors.

According to reports, the IMF also asked the Pakistani authorities during the technical discussions to take strict action to bridge the gap created by fiscal slippage so as to limit the primary deficit within the stipulated limits. .

Related Stories

State Bank receives $500m from the Asian Development Bank

State Bank has received $500 million from the Asian Development Bank (ADB). The State Bank of Pakistan's statement said that...

Govt cuts petrol price by Rs.10, diesel by Rs13.6/ltr

Prime Minister Shahbaz Sharif has approved a major reduction in the price of petrol and petroleum products. According to sources...

The government increased the prices of petroleum product

The government has increased the prices of petroleum products for the next 15 days, the new prices of petroleum...

Trending on DiariesPK