The PTI Government Has Asked The IMF Team For Talks - Infopedia360

INTERNATIONAL NEWS

Islamabad (Report Mahat Haider) The government of Tehreek-e-Insaaf has invited IMF team to Islamabad in September 27 to resolve the balance of balance in payments. Under the proposed amendment in the Finance Act, the government is looking forward to putting the burden of government taxes on a payable basis. The tax exemption is proposed to reduce Rs. 12 lakh from the annual and Rs 6 lakh. The maximum tax rate will be increased from 15 to 20 to 25 percent. Taxes on cigarettes, non-profit luxury items and vehicles will be increased through mini budget. The government wants to remove 200 to 300 unauthorized schemes by revoking the budget for development works from Rs 1030 billion to 600 billion to 650 billion rupees. According to high sources in the Finance Ministry and IMF, the government of Tehreek-e-Insaf has decided to negotiate with the IMF after the first anti-terrorism measures. It is expected that Federal Finance Minister Asad Umar (IMF) is expected from 8th to 14th October, Bali (Indonesia)

The World Bank will attend the annual meeting, hence the government wants to take several measures to correct the country's economic so that both budget and current account deficit can be overcome. Through the proposed budget amendment, the government will reverse partial tax incentives in the Muslim League (N) regime. The government is also considering imposing tax on non-profit assets. The GDP target will be reduced by 6.2 percent to 5.5 percent, while inflation will be increased from 6 to 7-8 percent. According to the government estimate, the FBR had to get the target of Rs 3935 billion tax receipts, but by June 30, 2018, 3842 billion could be received. Now the target of the FBR tax receipts is 4435 billion rupees, which looks unrecognized, the government is considering its revival. Budget deficit could not be achieved as a result of 6.6 percent of the budget deficit budget deficit. The revised target will now be 5.5% of the GDP. The cost of spending is also very tight because debt payments and defense costs are tied and they are not possible to deduct mass. The easy way is to reduce costs under PSDP. The current account deficit had gone up to $ 18 billion in the last fiscal year, resulting in decrease in reservoir reservoir. Import bills can be reduced by increasing one percent additional customs duty and 6000 tariff lines, but the FBR sources say that for this, the Government will have to take concrete measures against trafficking, especially for free trade agreements with China ( FTA) will be reversed, just by taking financial measures will not work.