Islamabad June 26 2022: Talks between Pakistan and the International Monetary Fund (IMF) will now take place after the approval of the budget in which the loan agreement will be signed.
Sources in the Ministry of Finance said that the talks between the IMF and Pakistani officials will be held on June 28 after the approval of the budget, after which the loan agreement will be signed.
According to sources, Pakistan has requested to increase the loan program from 6 6 billion to 8 8 billion and has also asked the IMF to extend the loan period by one year. Pakistan wants the program to run till 2024 instead of 2023. Sources said that the budget for the next financial year will be around Rs 10,000 billion, 11 percent sales tax on petroleum products will be collected from July 1 and it has been decided to levy Rs 50 per liter levy on petroleum products. According to sources, it has been agreed to levy Rs 5 per liter per month on petroleum products while raising the target of tax collection from Rs 7005 to Rs 7450 billion. Pakistan agreed to raise the the target of customs collection from Rs 950 billion to Rs 1005 billion and the target of GST collection from Rs 3008 to Rs 3300 billion.