Tuesday, March 19, 2024
News

Pakistan hopeful of IMF agreement within days

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

Islamabad | Tuesday, 2022 1:15:10 AM IST
Pakistan Finance Minister Miftah Ismail expressed hope on Monday that an agreement with the International Monetary Fund (IMF) for the revival of the Extended Fund Facility (EFF) would be reached "within one or two days", media reports said.

The minister made the remarks while speaking to reporters after a meeting of the Senate standing committee on finance, Dawn reported.

When asked whether Prime Minister Shehbaz Sharif is working on imposing taxes or giving relief to the masses, the minister said: "It depends on the kind of people they are. If they are well-to-do, then taxes will be applicable but the poor will be provided relief."

Reporters also asked Miftah whether the IMF is opposed to the government's decision to increase the salaries of employees by 15 per cent and tax exemption for those earning less than Rs 1.2m annually.

"The IMF has nothing to do with salaries as long as we have the money," he said, adding that the government will "protect" those earning less than Rs 1.2m annually.

Pakistan signed a 39-month, $6 billion EFF in July 2019, but the IMF stopped the disbursement of about $3 bn when the previous government reneged on its commitments. Currently, Islamabad wants the IMF to not only resume disbursements, but to also expand the size and duration of the programme, Dawn reported.

So far, Pakistan and the IMF have not yet been able to reach close to a staff-level agreement for revival of the loan programme, leaving authorities in a tight spot to bridge the gap and get the updated federal budget for the fiscal year 2022-23 passed by the National Assembly.

--IANS san/arm

( 283 Words)

2022-06-20-19:26:05 (IANS)

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
 
MORE ASIA NEWS
Pakistan: People across Karachi experien...
Pakistan: Scrutiny of nomination papers ...
Indian diaspora in Malaysia hails PM Mod...
Pak: Sindh police release daughters of a...
UAE President, World Central Kitchen CEO...
'Limited and misguided perspective': Ind...
More...
 
INDIA WORLD ASIA
'Congress not getting candidates to cont...
'Mesmerized...': Assam Governor Gulab Ch...
Tamil Nadu: PMK announces alliance with ...
Lok Sabha polls: BJP holds core committe...
Indian Navy's Remotely Piloted Aircraft ...
Part of ongoing anti-piracy operation: A...
More...    
 
 Top Stories
"I really don't get any joy": Direc... 
ADB approves USD 100 mln loan to su... 
Neeraj Chopra tells Arshad Nadeem h... 
USCIRF calls for US government to s... 
Bill Hader's 'The Cat in the Hat' t... 
PM Modi's ensuing Bhutan visit to f... 
"Uttarakhand police fully alert for... 
Opium farming racket busted in Punj...