ISLAMABAD
\nPakistan has formally assured the International Monetary Fund (IMF) to meet its demands for reviving the stalled loan programme.
\nAccording to sources, a roadmap has been provided for revival of the IMF debt package. Moreover, proposals for increasing tax revenue have also been handed over to the lender.
\nA mini budget of around 200 billion rupees has been suggested for increasing tax revenues. \u201cPreparations are in offing for an ordinance to enforce the mini budget,\u201d according to sources.
\n\u201cThe mini budget will come into force from February 1st,\u201d sources at the Ministry of Finance disclosed.
\nAccording to sources, Flood Levy will be enforced over imports in the mini budget. \u201cFlood Levy will also be imposed over imported raw material and furnished items,\u201d sources said.
\nMoreover, three percent flood levy will be imposed over the luxury items. One percent Flood Levy will be enforced over the imported goods presently having zero-customs duty.
\nFlood Levy will also be clamped over the foreign exchange profit of banks, ministry sources said. \u201cA roadmap to lower circular debt in energy sector has also been sent (to the IMF),\u201d sources shared.
\nThe government is trying to convince the lender to send its delegation in Pakistan within next two weeks. \u201cIMF team could arrive in the last week of January or first week of February,\u201d ministry sources said.
\n\u201cPakistan also striving for online talks with the lending institution,\u201d according to sources.
\nThe International Monetary Fund (IMF) had shared lists of prerequisite actions to Pakistan and told the authorities that Islamabad will have to move towards implementing all demands for reviving the stalled Fund programme.
\nIMF has asked Pakistan to take all required actions that could pave the way for striking a staff-level agreement and releasing of $1 billion tranche under the Extended Fund Facility (EFF).
\nThe sources say the IMF has sought a roadmap from Pakistan for the collection of Rs855 via petroleum levy till June 30, 2023. The Pakistani authorities have to jack up levy on diesel by Rs15\/litre and drag it to Rs50\/litre. <\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD Pakistan has formally assured the International Monetary Fund (IMF) to meet its demands for reviving the stalled loan programme. According to sources, a roadmap has been provided for revival of the IMF debt package. Moreover, proposals for increasing tax revenue have also been handed over to the lender. A mini budget of around 200 […]<\/p>\n","protected":false},"author":2,"featured_media":278571,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[186],"class_list":{"0":"post-308835","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-top-news","8":"tag-imf"},"yoast_head":"\n