• Download the Constitution of Pakistan
  • Advertise
Saturday, July 19, 2025
  • Login
NEWSLETTER
ECONOMY
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology
No Result
View All Result
ECONOMY
No Result
View All Result
Home Business

Government to Implement Revenue Measures on Feb 15 to Secure Early $1.2bn IMF Tranche

by News Publishing
February 12, 2023
in Business, Finance
Reading Time: 2 mins read
0
Government to Implement Revenue Measures on Feb 15 to Secure Early $1.2bn IMF Tranche
Share on FacebookShare on TwitterLinkedinWhatsapp

The government has decided to take a proactive approach and implement tax and non-tax measures from February 15 instead of March 1 — the ostensible deadline proposed by the global lender — to secure a quick release of a $1.2 billion tranche. This decision was made in light of an unexpected relief in tax measures from the International Monetary Fund.

The government anticipated that the IMF would request around Rs400 billion in tax and non-tax measures before the long-delayed talks began, but as the policy-level discussions came to an end, both sides agreed that Rs170 billion would be collected from tax and non-tax measures over the next four and a half months.

The Federal Board of Revenue (FBR) has already produced two ordinances to impose Rs100 billion in new taxes and Rs100 billion in flood charges on imports, according to official sources privy to discussions. The sources stated, adding that things have altered in the last two days of policy-level negotiations, “We were expecting greater demands from the Fund in the areas of taxes.”

The sources, however, did not go into detail about “the change of heart” on the part of the IMF. The sole defense offered was that the Fund might have taken the flood’s consequences on the national economy into account. In addition, the significant devaluation of the rupee is giving FBR additional billions.

Despite the flooding, the government will have to stop the Kissan Package and the export sector’s electricity subsidy as of March 1. According to the FBR tax measures that were agreed upon, the government will earn around Rs70 billion over the next four and a half months by increasing the general sales tax from 17% to 18%. Of the Rs170 billion in agreed-upon tax and non-tax measures, the collection accounts for 41.2 percent.

Additional tax initiatives include raising the withholding tax threshold, raising the regulatory tariff threshold on luxury and non-essential imports, and hiking the federal excise tax on tobacco products. The sources stated, “We have already finished our homework and identified the areas for increased revenue measures.

Tags: GovernmentIMF tranchelatestRevenue Measures
News Publishing

News Publishing

Related Posts

Pakistan, Russia sign Protocol to restore & modernize PSM

Pakistan, Russia sign Protocol to restore & modernize PSM

by News Publishing
July 11, 2025
0

Pakistan and Russia have signed a Protocol to restore and modernize Pakistan Steel Mills (PSM) in Karachi, reaffirming their long-standing...

PSX soars to new high of over 133,000 points in intraday trade

PSX soars to new high of over 133,000 points in intraday trade

by News Publishing
July 7, 2025
0

July 8, 2025: The Pakistan Stock Exchange (PSX) continued its remarkable upward trend on Monday, as the KSE-100 index surged...

Pakistan, Azerbaijan sign $2billion investment agreement

Pakistan, Azerbaijan sign $2billion investment agreement

by News Publishing
July 5, 2025
0

Pakistan and Azerbaijan have signed an agreement for investment worth two billion dollars in diverse sectors of Pakistan's economy. The...

Petrol price increased by Rs8.36 per litre for next fortnight

Petrol price increased by Rs8.36 per litre for next fortnight

by News Publishing
July 1, 2025
0

The Finance Division has announced a significant increase in fuel prices, citing volatility in global crude oil markets. Effective from...

Petrol increase

Petrol Prices Likely to Rise by Rs5/Litre from July 1

by Anum Arif
June 30, 2025
0

ISLAMABAD: Prices of petroleum products in Pakistan are likely to rise by up to Rs5 per litre starting Monday, July...

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

Govt Eyes $3.3 Billion in Foreign Loans From Chinese Banks

by News Publishing
June 24, 2025
0

The Government of Pakistan is working on securing two foreign loans totaling $3.3 billion from Chinese financial institutions, aimed at...

Next Post
Pak-US defence dialogue to begin in Washington today

Pak-US defence dialogue to begin in Washington today

About Us

Economy.pk is a source of economic, political, business, finance, health and sports updates.

Important Categories

  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

Social Media

  • Facebook
  • Instagram
  • Twitter
  • Linkedin
  • YouTube
  • Linkedin
  • TikTok
  • WhatsApp
  • About
  • Advertise
  • Careers
  • Contact

© 2024 Economy.pk - Web Development by Digital Otters

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Life & Style
  • Politics
  • Sports
  • Technology

© 2024 Economy.pk - Web Development by Digital Otters