AGL 23.81 Decreased By ▼ -0.54 (-2.22%)
AIRLINK 103.60 Increased By ▲ 0.60 (0.58%)
BOP 5.66 Decreased By ▼ -0.05 (-0.88%)
CNERGY 3.93 Decreased By ▼ -0.03 (-0.76%)
DCL 8.36 Decreased By ▼ -0.14 (-1.65%)
DFML 41.70 Decreased By ▼ -1.29 (-3%)
DGKC 88.30 Decreased By ▼ -0.60 (-0.67%)
FCCL 22.70 No Change ▼ 0.00 (0%)
FFBL 40.88 Increased By ▲ 2.68 (7.02%)
FFL 8.96 Decreased By ▼ -0.15 (-1.65%)
HUBC 160.49 Decreased By ▼ -3.21 (-1.96%)
HUMNL 11.46 Decreased By ▼ -0.34 (-2.88%)
KEL 4.82 Decreased By ▼ -0.03 (-0.62%)
KOSM 4.09 Decreased By ▼ -0.04 (-0.97%)
MLCF 38.60 Increased By ▲ 0.19 (0.49%)
NBP 53.60 Increased By ▲ 0.75 (1.42%)
OGDC 130.60 Decreased By ▼ -2.29 (-1.72%)
PAEL 25.36 Decreased By ▼ -0.29 (-1.13%)
PIBTL 6.25 Decreased By ▼ -0.13 (-2.04%)
PPL 118.90 Decreased By ▼ -0.60 (-0.5%)
PRL 23.95 Decreased By ▼ -0.65 (-2.64%)
PTC 12.92 Increased By ▲ 0.28 (2.22%)
SEARL 59.11 Decreased By ▼ -0.49 (-0.82%)
TELE 7.43 Decreased By ▼ -0.06 (-0.8%)
TOMCL 34.99 Decreased By ▼ -0.16 (-0.46%)
TPLP 8.72 Decreased By ▼ -0.13 (-1.47%)
TREET 15.90 Increased By ▲ 0.10 (0.63%)
TRG 55.95 Decreased By ▼ -1.95 (-3.37%)
UNITY 34.95 Increased By ▲ 0.06 (0.17%)
WTL 1.20 Decreased By ▼ -0.02 (-1.64%)
BR100 8,536 Decreased By -8.5 (-0.1%)
BR30 27,187 Decreased By -204 (-0.74%)
KSE100 79,944 Decreased By -48.3 (-0.06%)
KSE30 25,500 Decreased By -43.9 (-0.17%)

Finance Minister Ishaq Dar said on Thursday negotiations between Pakistan and the International Monetary Fund (IMF) are "on track" and “we will announce good news soon”, reported Aaj News.

Speaking to the media, he said talks between the two sides had entered the final round, progress has been "satisfactory" and he hopes discussions will wrap up today.

Earlier on Wednesday, Minister of State for Finance Dr Aisha Ghaus Pasha stated that some understanding was reached with the IMF and some clearance had also been secured at the prime minister level.

PL on POL products target: IMF-govt talks hamstrung by disconnect

While talking to reporters on the second day of policy-level talks with the fund, the minister of state for finance acknowledged that the IMF wanted more clearance on some issues.

Pasha claimed that the discussions with the IMF were moving in a positive direction and the government’s entire focus during the negotiations has been on protecting the common man.

In reply to a question, she said that a decision with respect to the rate of increase in the electricity price would be taken later on.

IMF talks: ‘Some understanding’ reached: MoS Pasha

The minister said that she was confident that the government would ensure that the burden of the programme effects the common man the least and those who can afford to pay should pay more percentage of an increase in electricity cost and taxes if any were imposed.

An IMF delegation is in Pakistan to conclude the ninth review of the economy and unlock the next tranche.

On condition of anonymity, sources earlier told Business Recorder that power sector and primary balance remained major issues during technical-level talks.

They added that now these would be taken up during the policy-level discussions to determine the revenue gap as well as with respect to tariff increase.

According to the officials, the IMF was displeased over providing subsidy to export-oriented sectors and wanted the government to withdraw it and sought an increase in general sales tax, ie, from 17-18% in view of revenue shortfall.

They added as per the IMF projection, primary deficit for the ongoing fiscal year would be around 0.9% of the GDP, whereas, the government projection was around 0.5-0.6% of the GDP.

Comments

Comments are closed.

Mian M N Shite Feb 09, 2023 02:52pm
Well done Samdhi sahib. If only I could believe you !!!!!!
thumb_up Recommended (0)
TA Feb 09, 2023 03:09pm
Getting a loan at unfavorable terms for the nation, is a shame and not a good news. It's a good news for "The Elite" who will be the real beneficiary of these loan.
thumb_up Recommended (0)
Abdul Hafeez Feb 09, 2023 03:17pm
same will be drain in corruption and poor nation will pay back soon with interest
thumb_up Recommended (0)
Amir waheed Feb 09, 2023 03:23pm
Plz free all the Pakistani nation from the IMF program for ever,can you.if u'll free the Pakistani nation from IMF program I promise u that me and my family will give u vote after the next five years otherwise excuse us for incoming election.
thumb_up Recommended (0)
Dr fahad Feb 09, 2023 03:24pm
@Mian M N Shite, maybe he is good person but he is not compatible for this job (((
thumb_up Recommended (0)
Abdul Sheikh Feb 09, 2023 03:44pm
Your pride is my shame.
thumb_up Recommended (0)
Asif Iqbal Feb 09, 2023 04:19pm
Far better to declare this country bankrupt rather putting this nation backward for next many years after executing more corruption. We are muslims Alhumdullilah and ready for jihad, anytime
thumb_up Recommended (0)
Aamir Latif Feb 09, 2023 05:26pm
Eventually, but Mr. Dar should quit as FM, he caused lots of damage with his 4-month forex capping decision that led to brink of severe devaluation and forex decline... He should be accountable for this mess.. Pmln should think above this rishtadar thing
thumb_up Recommended (0)
qasim raza Feb 09, 2023 05:27pm
If IK would be there same conditions and the same news would be termed as 'a Package'.. and the brand would make the social media trolls happy and jubilant. The same is the case with deposits from friendly countries.
thumb_up Recommended (0)
Old Eagle Feb 09, 2023 05:28pm
It's a disaster and not a " good news" for sure. These so called leaders of ours are like parasites, nay even worse as parasites don't kill their hosts. Their TA DAs, facilities, petrol ration together with free electric and gas units are draining Pakistani public resources.
thumb_up Recommended (0)
Az_Iz Feb 09, 2023 06:55pm
Dar is so incompetent. He should go.
thumb_up Recommended (0)
Az_Iz Feb 09, 2023 06:57pm
Other countries are planning on doubling the per capita income in a short period of time. These incompetent guys are busy taking credit for averting crises , again and again.
thumb_up Recommended (0)
Johnny Feb 09, 2023 07:00pm
Who can believe this guy..who has coned IMF!
thumb_up Recommended (0)
Pakistani1 Feb 09, 2023 08:54pm
Nation would not have faced this long anxiety if you knew what you were supposed to do when you returned as FM.
thumb_up Recommended (0)
Bilal Ahmed Khan Feb 09, 2023 10:00pm
Dar is not just economic hitman but also noon league. The damage control by Miftah is simply undone by Dar. Just expelling Dar as FM will sent good signal to the market. Despite REER is lower than 100, PKR is not appreciating to desire level, people holding Dollar has no confidence to deposit in banks. Pakistan should get ride of Darnomics
thumb_up Recommended (0)
KhanRA Feb 09, 2023 11:21pm
IMF terms are actually going to make Pakistan stronger in the future. But for the reforms to take root, the incompetent Dar must be disposed of. He only has this job because of his family ties to the Sharifs. The whole PML team is rotten to the core because of nepotism (why exactly is Marriyum such a big figure in the party? Only because her dad is NS. No other reason at all)
thumb_up Recommended (0)
KhanRA Feb 09, 2023 11:22pm
@TA, The terms of the loan will actually help Pakistan’s economy. The country cannot afford subsidies, and lawmakers should indeed declare their assets to open bank accounts. What even better is that PML will be swept out of power.
thumb_up Recommended (0)
KhanRA Feb 09, 2023 11:26pm
@qasim raza, IK would not be in same position, and no would Miftah Ismail put Pakistan into this. Dar got this job because of nepotism due to his family ties to Sharifs. SBP reserves are extremely low because Dar’s plan to buy rupees to artificially inflate its value to avoid 230 to the dollar. He drained forex reserves. This had the effect of making imports cheaper (subsidizing them), and making exported expensive (penalizing them). This logic has no basis in economic theory. Miftah Ismail was perfectly capable, but just a few months of Dar’s disaster has put Pakistan on the brink.
thumb_up Recommended (0)