The IMF opposed the promotion of solar energy in the Pakistan
Expressing concerns over the failure to meet provincial surplus budget targets, the IMF discouraged provincial efforts to grant wheat support prices. Negotiations between Pakistan and IMF
The IMF opposed the promotion of solar energy in negotiations with Pakistan and expressed concerns over the failure to meet the provincial surplus budget target. According to the media, negotiations between Pakistan and IMF are continuing for the fourth day.
The performance of the provincial governments was evaluated by the IMF. The IMF expressed concerns over the failure to meet the provincial surplus budget target. Negotiations on tax on agricultural income in provinces and national financial agreement will be held tomorrow.
Legislation for collection of tax on agricultural income will be first in Punjab and Sindh. In the briefing to the IMF, it was told that the provincial budget for July-September was 159 billion 68 crore surplus compared to the target of 342 billion.
The target could not be met due to Punjab's 160 billion deficit, the overall provincial surplus was 182 billion rupees less than the target. Sindh had a surplus of 131 billion, Khyber Pakhtunkhwa 103 billion, Balochistan 85 billion. The IMF discouraged provincial efforts to provide support prices for wheat. The IMF mission also raised questions about low spending in smaller provinces. During the first quarter, the development expenditure remained low and the expenditure will double in the next quarter.
In yesterday's meeting, Pakistan and IMF agreed that there will be no mini-budget and no GST will be imposed on petroleum products. It was informed in the meeting that the rate of tax to GDP increased from 8.8% to 10.3%, the target of 12 thousand 970 billion will be maintained. The IMF expressed satisfaction at the 1.5 percent improvement in tax-to-GDP. In the negotiations, IMF was told in the briefing that tax collection on agricultural income will start from next year, further negotiations with the IMF will also be held. The talks are expected to discuss some changes in business-friendly schemes with the IMF. 12 billion rupees tax was collected from retailers in 3 months
0 Comments