Pakistan says ‘no more’ to IMF demands as it assures of meeting tax target

[FOOLS_NIGHTMARE]

Finance ministry officials propose alternative plans for tax collection

The government on Tuesday reassured the International Monetary Fund (IMF) of meeting the annual tax target of Rs7,470 billion while discussing the matters for negotiations for the next tranche under the extended fund facility (EFF).

Pakistan entered a $6bn IMF program in 2019 and its ninth review for the release of $1.18bn is currently pending.

The officials of the finance ministry have assured of collecting tax beyond target through stringent measures.


Providing alternative solutions to the global lender to increase revenue and decrease deficit, the finance ministry reassured them with a strategy to improve recovery from tax evaders.

Similarly, an alternative strategy was proposed to generate revenue without imposing new taxes.

The Federal Board of Revenue (FBR) has also provided a plan to reform administrative measures related to taxes.

Requesting IMF to reconsider its conditions, the government told them that Pakistan is not in a position of subjecting masses and industries to more burden due to the economic meltdown.

However, the government has reassured the global lender of meeting the annual tax target of Rs7,470 billion.

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[Rusty2]

More burden?
Hardly anyone in Pakistan pays taxes, how can you be more burdened if the burden is almost zero?

 

[Thəorətic Muslim]

pdm jealous of Modi's 56 inch chest.

Who are these idiots trying to fool? You want the 1,548th bailout you'll bend over again.

 

[Flight of falcon]

Ulloo ka patha Daar…. Mian saanp and his tubbar have taken all their wealth out and now letting Pakistan drown with their idiocy….

 

[Clutch]

Beggars can't be Choosers!

Beggars can't be Choosers

 

[PakFactor]

Lol

 

[Path-Finder]

the best thing this gormint has produced is this

https://twitter.com/x/status/1550882033181900801

https://twitter.com/x/status/1550891713182707712

and as a bonus

https://twitter.com/x/status/1546797126818361345

 

[maithil]

Pakistan, IMF remain poles apart as power sector debt skyrockets​

ISLAMABAD:
Pakistan and the International Monetary Fund (IMF) on Thursday could not agree on a roadmap for recouping on an average monthly Rs123 billion power sector losses that are further ballooning highly unsustainable circular debt.

Finance Minister Ishaq Dar held a virtual meeting with the IMF mission chief, Nathan Porter, aimed at finding a common ground to address the power sector issues, according to sources. The power sector has become the biggest stumbling block in the way of the 9th IMF review mission, which is the prerequisite for the approval of the next loan tranche of over $1.1 billion.

The government added Rs393 billion into the circular debt during July-September period, which further increased to nearly Rs500 billion by end October, according to the documents and the government sources.

The discussions also took place on the revenue collection from the petroleum levy, as the government has now further downward revised its earlier revised projection of Rs800 billion collections.

The meeting remained inconclusive and the Ministry of Finance did not issue a press statement, departing from its earlier practice.

The Pakistani side shared a plan with the IMF that talked about increasing electricity prices on account of interest cost on the stock of the circular debt and advance quarterly tariff adjustments, the sources said.

The plan also included the resolution of the K-Electric outstanding dues and the agriculture-tube wells subsidy.

The IMF will review the plan and then give its feedback, said a government official. He said that both sides have agreed to remain engaged.

As per the revised schedule, the IMF board was supposed to approve the 9th review and release of the tranche by November 3rd. However, due to Pakistani authorities’ failure to meet the programme conditions for the 9th review, the global lender has not yet dispatched a mission to Pakistan.

The IMF is seeking a clear roadmap for the power sector, taxation and addressing any fiscal imbalances due to three key factors –higher than agreed circular debt during the current fiscal year, higher than agreed primary budget deficit and expenses on flood rehabilitation and reconstruction, according to the sources.

The meeting ended inconclusive the day the State Bank of Pakistan reported that Pakistan’s gross official foreign exchange reserves dipped to the further lowest level of mere $6.1 billion –remaining at nearly nine years lowest level. The same day, the Standard & Poor’s credit rating agency downgraded Pakistan to ccc+, the lowest rating by the global agency since December 2008.

 

[Enigma SIG]

Reform yourself first so fracking freeloaders!

 

[Clutch]

Finance ministry officials propose alternative plans for tax collection

The government on Tuesday reassured the International Monetary Fund (IMF) of meeting the annual tax target of Rs7,470 billion while discussing the matters for negotiations for the next tranche under the extended fund facility (EFF).

Pakistan entered a $6bn IMF program in 2019 and its ninth review for the release of $1.18bn is currently pending.

The officials of the finance ministry have assured of collecting tax beyond target through stringent measures.


Providing alternative solutions to the global lender to increase revenue and decrease deficit, the finance ministry reassured them with a strategy to improve recovery from tax evaders.

Similarly, an alternative strategy was proposed to generate revenue without imposing new taxes.

The Federal Board of Revenue (FBR) has also provided a plan to reform administrative measures related to taxes.

Requesting IMF to reconsider its conditions, the government told them that Pakistan is not in a position of subjecting masses and industries to more burden due to the economic meltdown.

However, the government has reassured the global lender of meeting the annual tax target of Rs7,470 billion.

SAMAA TV - Latest Breaking News, Pakistan, World, Video news Home - SAMAA

Find latest breaking, trending, viral news from Pakistan and information on top stories, weather, business, entertainment, politics, sports and more. For in-depth coverage, Samaa English provides special reports, video, audio, photo galleries, and interactive guides.

www.samaaenglish.tv

As the pathetic clown PM Showbaz Cherry Blossom boot polish once famously said, "beggars can't be Choosers!!!"

Stop fooling the masses you NRO scum!

 

[epebble]

Stalled programme revival: IMF asks Pakistan to meet all demands in three weeks​

IMF asks Pakistan to meet all demands in three weeks

ISLAMABAD: The IMF has shared lists of prerequisite actions and told Pakistani authorities in plain words that Islamabad will have to move towards implementing all demands in the next 15 to 20 days...

www.thenews.com.pk

 

[RescueRanger]

Lol

 

[Catalystic]

All you overseas Pakistanis need to endure your homes or those who’re your loved ones, the homes are solarized.
No matter the cost, try to get small solar system installed. The way things are, loadshedding will only increase…….invest now and save your families

 

[Genghis khan1]

All you overseas Pakistanis need to endure your homes or those who’re your loved ones, the homes are solarized.
No matter the cost, try to get small solar system installed. The way things are, loadshedding will only increase…….invest now and save your families

I have only one close relative there, and I am trying to get them out asap. Will get them Dubai residency or something.

Sh!t in Pakistan is just stupid. Not worth wasting time over.

 

[Dalit]

Bare minimum is what I send now. Absolutely bare minimum. No more money saving in Pak banks. No more plans to buy a house in Pakistan. I wouldn't be surprised if many expats have already sold as much as possible and moved out. I am happy I bought a house in Turkey. A much better investment.