IMF delegation to visit Pakistan next week for new deal, federal ministers

Islamabad: The federal ministers have said that the IMF delegation will visit Pakistan in seven or ten days, negotiations will be held with the IMF on determining the size and duration of the new program. He also gave an indication.

This was said by Information Minister Attaullah Tarar, Finance Minister Muhammad Aurangzeb and Prime Minister Nazir Tarar while holding a press conference.

The finance minister said that Saudi Arabia had a successful visit to Pakistan, the conversation with the Saudi delegation was positive, economic stability is coming in the country and our economic goals are going in the right direction, foreign exchange reserves are also improving. The IMF team will also visit Pakistan this month.

The finance minister said that the improvement of infrastructure is necessary for the improvement of the country’s economy, tax reforms are the need of the hour, it is necessary to reduce non-developmental expenses, the private sector will improve the country’s economy, pension expenses. Steps must be taken to bring it under control.

Mohammad Aurangzeb said that countries can run only by paying taxes, how can foreign investors be angry with us in the case of blocking SIMs of non-filers? We are moving forward in many things and will continue to move forward, inflation is coming down, interest rates are expected to come down, rates are coming down in June, July and August.

He said that the IMF delegation will come to Pakistan within the next seven to ten days, the size and duration of the new program will be decided with this delegation, they will also discuss the effects of climate change, and also talk to the World Bank. He said that he would support the client and also talk to other financial institutions to transfer technology and provide funds.

The Prime Minister of Law Nazir Tarar said that the National Assembly has passed the first legislation for tax collection of 2700 billion rupees, pension reforms are necessary but they are yet to be finalised, no bill has been prepared regarding the age limit in pension. There has been no legislation, if it comes to implementation with the pension reforms, which will apply to everyone from the bottom employee to the head of the institution, the Prime Minister has set up a committee to review has been

Azam Nazir Tarar said that other stakeholders, including members of parliament, have objections regarding the appointment of judges. Everything related to the appointment of judges has gone to the Supreme Court, including the army or the judiciary, which will be discussed with the relevant stakeholders. will talk and will not do anything that creates any discord or conflict.

The finance minister said that I am telling you clearly that the entire cabinet is with us, everyone is working in consultation. How long will the burden be put on the people who are already in the tax net? The tax-to-GDP ratio is to be increased to thirteen to fourteen percent in the next three to four years. Work on the light.

The finance minister said that the investors of Saudi Arabia had a successful visit, there has been economic stability in the country for the last 10 months, foreign exchange reserves have increased from 9 billion dollars, the value of the rupee is also stable and the country is moving in the right direction.

The finance minister said that the IMF team will also visit the country this month, the government will give a policy, the private sector will invest, investors from other countries are coming, apart from Saudi Arabia, there will be reforms in the profession. In the institution where I came from, the retirement age has been changed from 60 to 65 years, nowadays 60 years old is equal to the new forty years, the profession has to be reformed, it will not be lived by talking anymore, but work has to be done.

Information Minister Atta Tarar said that we are going to make reforms, all the economic figures are positive, the government has a big burden of pension, the pension reforms will be applied to all institutions, the proposals are still being discussed, nothing has been finalized, Pakistan. The proposal of increase in employment due to increase in age is also under consideration.

The information minister said that the macroeconomic stability came from the successful implementation of the IMF program, we have to take this program forward now, Pakistan has to go back to the commercial markets so that there is no shortage of dollars again.

He said that the first month of registration of retailers was voluntary, now we have to do enforcement, we have no choice now, the country cannot run with 9 percent tax to GDP, no investor is angry with the SIMS issue. State Bank works on policy rate, it is clear that 26% interest rate cannot work. State Bank has said that it will be reduced by September.

He said that the IMF mission will come to Pakistan in the next 7 to 10 days, they are negotiating with the IMF and the World Bank for assistance to prevent climate change, FBR will be digitized.

He said that no law has been prepared to increase the age limit in employment. If the employment period is increased, then everyone will get it.