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IMF Team to Spend 10 Days in Pakistan

IMF team visit Pakistan from January 31 to February 9, spokesperson.

The team will assess Pakistan and international stability, according to the IMF source. He said that it will examine the financial situation, its resilience, and long-lasting remedies.

The group will also examine the strategy for reducing the energy sector’s circular debt. Ten days would pass during the Pakistan and IMF negotiations.

If the discussions are successful, Pakistan will get $1 billion, according to sources.

The FBR, NEPRA, OGRA, and Ministry of Finance officials would be contacted by the IMF mission.

The expedition would examine the plan for stabilizing the financial situation. It would evaluate the steps taken to rebuild the flood-affected areas.

The International Monetary Fund (IMF) has agreed to complete its strict requirements before the arrival of its review team in Pakistan, therefore the draught and preparations for the anticipated mini-budget have reached their last phase.

Sources added that ideas about revenue measures have been given to the Ministry of Finance, and that extra duty tax is being recommended, roughly Rs70 billion in tax exemption is being revoked, and withholding tax imposition on banking transactions of non-filers is being requested.

They said that the application of a withholding tax on daily transactions over Rs. 50000 was also being considered, although active taxpayers would not be subject to the levy.

While a charge on petroleum items may be implemented, a withholding tax of between Rs45 and Rs50 billion was projected to be due.

It was anticipated that gas prices will rise by 30%. It is anticipated that power prices would rise for various users. According to reports, all measures will be put into effect on February 1.

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