ISLAMABAD: Economic review talks between Pakistan and the International Monetary Fund (IMF) have been successful.
According to the ongoing announcement regarding the negotiations, the staff level agreement between Pakistan and the IMF has been concluded. After the agreement, Pakistan will receive an installment of $1.1 billion from the IMF next month with the approval of the Executive Board. The standby arrangement of $3 billion will expire as soon as the last installment is received.
According to the announcement, formal negotiations will also begin next month for the loan program for which the FBR has prepared a special revenue plan.
According to the sources, preparations have been started to take the most important tax measures with the new budget in June. Plans have been made to bring 9 lakh shopkeepers under fixed tax through the Finance Bill.
In the first phase, the scheme will be given to shopkeepers in Islamabad and the four provincial capitals. A new mechanism for the expenditure of the Benazir Income Spot Program will also be created. The cost of Benazir Income Support will be borne jointly by the Federation and the Provinces. A new strategy for recovery costs will also be developed after the catastrophe of climate change. The reconstruction of the flood-affected districts will also be done jointly by the federation and the provinces.
