UAE confirms bilateral support of $1 billion: Dar
Minister for Finance and Revenue Senator Mohammad Ishaq Dar said that UAE authorities have confirmed to International Monetary Fund (IMF) for their bilateral support of US$ one billion to Pakistan. In a tweet on his official Twitter handle, he said, “UAE authorities have confirmed to IMF for their bilateral support of US $ One billion…
Adil Aziz
Staff-level agreement with IMF to be signed in few days: Ishaq Dar
Minister for Finance and Revenue Ishaq Dar said that the staff-level agreement with the International Monetary Fund (IMF) would be signed in the next few days as all of the requirements had already been fulfilled. “We are very close to signing the agreement with the IMF and it would be done in the next few…
US encourages Pak to continue working with IMF to improve economy, business
Pakistan is desperate to unlock the next tranche of a USD 6.5 billion loan facility with the IMF but struggles to meet tough conditions set by the Washington-headquartered financial body The United States has encouraged Pakistan to continue working with the IMF to improve the cash-strapped country’s economy and the business environment to “unlock” the much-needed funds from the global lender. US State…
Pakistan has to give assurances on financing BOP deficit: IMF
Pakistan has completed almost all of the prior actions except for the external financing requirement the IMF wanted it to for clearing US$1.1 billion in disbursements under the US$6.5 billion Extended Fund Facility agreed in 2019. PAKISTAN will be required to give an assurance that its balance of payments (BOP) deficit is fully financed for…
IMF likely to announce EFF agreement by this week: Naveed Qamar
After formal announcement by the fund, Pakistan would get a $1.2 billion tranche under the Extended Fund Facility Federal Minister for Commerce, Syed Naveed Qamar said Wednesday that the International Monetary Fund (IMF) was likely to announce its staff level agreement on Extended Fund Facility (EFF) with Pakistan by this week. “Pakistan has taken all…
NA committee recommends comprehensive super tax applicable to all entities, based on profits
The National Assembly Standing Committee on Finance and Revenue recommended a comprehensive super tax applicable to all entities, which would be based on the limit of profits, as proposed by the Federal Board of Revenue (FBR). The Government is optimistic about the forthcoming achievement of a staff-level agreement with the International Monetary Fund (IMF), which…
Pakistan hikes tax on luxury goods and services to get IMF deal
Pakistan’s parliament gave the go-ahead Monday for the government to raise taxes on a raft of luxury imports and services in a bid to unlock the next tranche of an International Monetary Fund (IMF) loan. Faced with critically low foreign exchange reserves, the government has already halted most imports — apart from food and…
Considerable progress made on EFF agreement, says IMF
Under the ninth review of Extended Fund Facility (EFF) agreement, Pakistan and the International Monetary Fund (IMF) made considerable progress on policy measures to address domestic and external imbalances. “Considerable progress was made during the mission on policy measures to address domestic and external imbalances,” the fund said in a statement at the conclusion of…
IMF staff-level talks conclude positively, discussion on MEFP from Monday: Dar
Federal Minister for Finance and Revenue, Senator Ishaq Dar on Friday said that after conclusion of staff-level talks on the Extended Fund Facility (EFF), Pakistan and the International Monetary Fund (IMF) would start a virtual discussion on the Memorandum of Economic and Financial Policies (MEFP) from Monday. “Good news is [that] as per their commitment,…
IMF-Pakistan discuss fiscal policies to accomplish 9th review
Finance Minister, Senator Mohammad Ishaq Dar briefed the mission on fiscal and economic reforms and measures being taken by the government in different sectors including bridging the fiscal gap, exchange rate stability and in energy sector for the betterment of the economy The International Monetary Fund (IMF) and Pakistan discussed and reviwed the economic and fiscal…