New terms for talks between IMF and Pakistan emerge
.webp "New terms for talks between IMF and Pakistan emerge")
A levy of Rs 50 per liter will be levied on petroleum products in phases, 2.5 per cent income tax will be levied on annual income of Rs 6 to 12 lakh.It was decided to increase the tax collection target for the new financial year to Rs. 7445 billion
New terms for negotiations between the International Monetary Fund (IMF) and Pakistan have emerged.
Media reports quoted sources as saying that under the new terms of the IMF, a levy of Rs 5 per liter would be levied on petroleum products every month while a total of Rs 50 per liter levy would be levied on petroleum products in phases.
Similarly, it has been decided to increase the tax collection target for the new financial year to Rs. 7445 billion. The target for customs collection will be increased from Rs. 950 billion to Rs. 1005 billion. It will increase to 3300 billion.
It has been informed that in the new year, the income tax target will be increased to Rs 55 billion, 2.5% income tax will be levied on annual income of 6 to 1.2 million, 2% tax will be levied on annual income of 200 million, and annual income of 250 million. 3% tax will be levied while 4% tax will be levied on annual income of Rs. 300 million.
It is to be noted that an agreement has been reached between the Government of Pakistan and the IMF. Pakistan will receive one billion dollars from the IMF immediately.
''The IMF team will also visit Pakistan in two weeks.''
Under an agreement with the International Monetary Fund (IMF), the tax on those earning up to Rs 100,000 a month has been reintroduced. ''The IMF has also agreed to take steps for Pakistan's budget for the next financial year.''
It was informed that the IMF has agreed with the economic measures of the government of Pakistan, the IMF also agrees with the budget targets of Pakistan, the declaration on the agreement will be issued soon while significant progress has been made regarding the next budget.
Talks are underway on policies to improve macroeconomic stability over the next year, with further talks today between Pakistani officials and the IMF.