Pak May Impose 170 Billion Rupees In Taxes After IMF Bailout Package Stuck
NDTV
Outlining the policy measures agreed upon between the government and the IMF, Pakistan minister said taxes amounting to 170 billion Rupees would be imposed.
The Pakistan government has received a memorandum on the terms and conditions from the IMF for the completion of a USD 7 billion loan programme, Finance Minister Ishaq Dar said on Friday but acknowledged that both sides are yet to clinch a staff-level agreement on the much-needed bailout for the cash-strapped country.
Mr Dar made the statement after an IMF delegation, which left Pakistan on Thursday night after 10 days of talks with the government, said virtual discussions would continue on the ninth review of the programme.
The Memorandum of Economic and Financial Policies (MEFP) is a key document that describes all the conditions, steps, and policy measures on the basis of which the two sides declare the staff-level agreement.
Once the draft MEFP has been shared, the two sides discuss the policy measures outlined in the document. Once these are finalised, a staff-level agreement is signed, which is then forwarded to the International Monetary Fund's (IMF) executive board for approval.
