ISLAMABAD (East West
News)
Federal Finance Minister Muhammad Aurangzeb says that for the approval of the
new bailout package from the IMF Executive Board, Pakistan will need 3 to 5
years to repay the loan of 12 billion dollars from China, Saudi Arabia and the
United Arab Emirates. should be expanded, it includes 5 billion dollars from
Saudi Arabia, 4 billion dollars from China and 3 billion dollars from the
United Arab Emirates. The World Financial Institution wants assurance of 37
months of external financing for the 7 billion dollar loan program.
While China will support Pakistan in the approval of the MF
Board, legislation will be enacted to bring the agricultural sector into the
tax net, IPPs cannot be terminated at once, we need to increase our exports to
get rid of the IMF. And we have to go towards foreign investment in export
industries, bringing other sectors including retailers, real estate, builders
into the tax net can give relief to taxpayers, there is a need to create a
permanent plan to overcome the energy crisis. Tax defaulters are not sincere
with the country and people. On Sunday, the Federal Finance Minister said in a
press conference that if we have to increase the taxes and take it up to 13%,
we also have to look at the facilities, sales tax, IT, income tax, refund and
duty draw bags.
It has been started from July 1, delay has been an issue, 68
billion rupees have been refunded so far, this is important for the industries,
I sympathize with them because of the salaried class, which sector. If they are
not brought into the tax net, the situation will continue as it is. The Prime
Minister is personally monitoring the reforms in FBR, due to digitization, 49
lakh non-filers have been identified in the last two months who have assets,
own vehicles, travel abroad but are not filers. Corruption will be reduced due
to digitization, 600 billion rupees of fake tax has been identified out of
which only one billion rupees has been recovered, apart from customs tax 50 to
200 billion.
Under-invoicing of Rs. has come to light, the committee is working regarding right sizing, we have reviewed 5 ministries which include Ministry of Kashmir and Gilgit-Baltistan, Ministry of Safran, Industry and Production, IT and Telecom and Health. We will take measures keeping in mind the rights of the employees, this is not the time to talk but to work, the increase in the prices of petroleum products is related to the global market and the devaluation of the rupee, but it is not necessary to take advantage of it. They will not give permission to anyone, he said that he has visited China along with Federal Minister Owais Leghari, on this occasion there was a discussion regarding the issue of energy and panda bond, China, Saudi Arabia and United Arab Emirates are always in difficult times. They have proved to be our good friends, they have also supported us at the level of the IMF, the finance minister said that we are still suffering the consequences of the agreement made with the IMF in the past.
If it is the last program of MF, for
this we have to think about increase in exports, foreign investment which will
lead us towards exports. In response to a question, he said that if a
unilateral agreementIf we eliminate it, it will not have good effects. If we can't
simplify the tax system, it will be of no use. We will work with Bank China one
by one, we have discussed the appointment of a Chinese local advisor there,
there are structural issues as well as tariffs, we have to take them both
together and move forward. So that urgent problems are solved, if structural
measures are not taken, then we will be sitting with the same problems in the
next year also, in the same way, the economy can get rid of these problems. He
said that due to the dignity of the contracts of IPPs, they cannot be
completely ignored.
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