PM Khan summons meeting to discuss IMF talks on Monday

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Prime Minister Imran Khan has summoned a meeting on Monday that will take into account key matters related to economic affairs, talks with the International Monetary Fund (IMF) and the amnesty scheme.

It is pertinent to mention here that today is the second round of talks between the Government and the IMF will continue over the weekend.

Bilateral talks started yesterday in the capital after which the officials of Finance Ministry revealed that the discussions were fruitful.

Sources disclosed that PM Khan has rejected the draft of a staff-level agreement between the Ministry of Finance and IMF.

Moreover, sources in the Ministry of Finance had earlier informed that Pakistan and IMF were close to finalizing a staff-level agreement expected to range between $6-7 billion.

In the light of the likely bailout package, Pakistan would have to concede to the IMF’s demands to hike power tariffs and taxes and withdraw tax concessions and exemptions.

Tax amnesty scheme:

In April former Finance Minister Asad Umar announced that a new tax amnesty scheme will appear ahead of the budget for individuals to declare their wealth i.e local and foreign assets.

Now, the government hopes to bring the scheme into effect through a presidential ordinance.