News
May 03 , 2024
IMF Team Likely to Arrive in Mid-May to Finalize Next Bailout
Islamabad: An IMF mission is likely to visit Pakistan in mid-May 2024 to finalize salient features of the upcoming bailout package under the $6-$8 billion Extended Fund Facility (EFF) program.
The IMF team will stay in Islamabad for about two weeks to finalize the macroeconomic and fiscal framework for the next three-to-four-year program. The government is expected to present the next budget 2024-25 around June 6 or 7, 2024 before parliament with the possibility of taking stringent measures aiming at achieving fiscal stabilization.
The pension reforms might become one of the major demands of the IMF program from the next financial year under which the provision of pension might not become feasible. There is another proposal under consideration to bring pensions under the tax net.
The FBR is considering bringing a monthly pension of Rs100,000 under the tax net. There is another proposal to slap a flat rate of 10 percent on the taxable ceiling amounts of pensioners.
The size of the next EFF program will be finalized during the upcoming parleys between the two sides. – The News
Courtesy The News
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