The staff level agreement between Pakistan and the IMF is expected by Friday, State Bank’s Monetary Policy Committee meeting was convened on Thursday to fulfill the preconditions. FBR also clarified about additional taxes worth Rs 177 billion.
According to the sources, the interest rate is expected to increase from 2 to 2.5 percent under the conditions of the IMF, there is a possibility of important negotiations between Pakistan and the IMF on Thursday evening, Pakistani officials briefing on the policy rate increase and electricity surcharge. will give
The meeting of the IMF board is expected 3 to 4 weeks after the staff level agreement between Pakistan and the IMF.
On the other hand, FBR has also issued an explanatory circular related to the Rs 177 billion mini budget, the standard GST rate has been increased from 17 to 18 percent, the additional GST will be applicable on club, business and first class air tickets.
According to the report, the objective of the mini-budget is to control the fiscal deficit and increase the tax-to-GDP ratio.