Pakistan IMF
Pakistan govt may impose more taxes to meet IMF targets
Pakistan's Advisor to Prime Minister on Finance and Revenue Shaukat Tarin recently hinted that more taxes may be imposed to meet the annual tax collection target after completion of talks with the International Monetary Fund (IMF).
He said talks with the IMF will be completed soon.
Meanwhile, Saudi Arabia on Tuesday announced that it has agreed to revive its financial support to Pakistan, which includes about $3 billion in safe deposits and $1.2bn to $1.5bn worth of oil supplies on deferred payments, Dawn reported on Wednesday.
This was agreed upon during Prime Minister Imran Khan's visit to Saudi Arabia this week. However, a formal announcement to the effect will be made by the PM’s adviser on finance and revenue Shaukat Tarin and Energy Minister Hammad Azhar on Wednesday at a news conference.
The Saudi government will be depositing $3bn in Pakistan’s account for a year immediately and keep it rolling at least until the completion of the IMF programme in October 2023, officials said.
This extension of the financial facility is expected to help Pakistan convince the IMF about its financing plan. In addition, the Saudi government will also be providing crude oil to Islamabad on deferred payments worth up to $1.5bn per annum.
(With UNI inputs)
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