Rs215 billion in additional levies will assist complete the IMF agreement.

https://dancesportinggood.blogspot.com/

 The government will decrease expenditure by Rs. 85 billion. • PDL will be hiked from Rs. 50 to Rs. 60 per litre. • Rs80 billion programme to enhance remittances. • Of additional taxes, Rs. 70 billion will come from fertiliser duty, Rs. 45 billion from hike in tax on purchasing, selling property, and Rs. 30 billion from higher tax on persons earning over Rs. 200,000 per month.

ISLAMABAD: In a last-ditch effort to obtain crucial funds, the administration has made a number of adjustments to the budget for the upcoming fiscal year, including fiscal tightening measures mandated by the International Monetary Fund (IMF).

Ishaq Dar, Pakistan's finance minister, announced the modifications to the house on Saturday. "Pakistan and IMF had detailed negotiations for the last three days as a last effort to complete the pending review," he said.

He said that without cutting the federal development budget or the wages and pensions of government employees, the administration now plans to raise an additional Rs 215 billion in taxes and reduce spending by Rs 85 billion in the upcoming fiscal year.

According to him, this will cause the government's tax collection target to be revised to Rs9.415 trillion and total spending to be increased to Rs14.48 trillion. The provinces' share will rise from Rs5.28 trillion to Rs5.39 trillion.

• The government will decrease expenditure by Rs. 85 billion. • PDL will be hiked from Rs. 50 to Rs. 60 per litre. • Rs80 billion programme to enhance remittances. • Of additional taxes, Rs. 70 billion will come from fertiliser duty, Rs. 45 billion from hike in tax on purchasing, selling property, and Rs. 30 billion from higher tax on persons earning over Rs. 200,000 per month.

He expressed his optimism that these and other adjustments "will make our fiscal deficit much better" and claimed that the government had made sure the increased taxes wouldn't harm the less fortunate.

Mr. Dar said that in order to reduce the current account imbalance, one of the main reasons the IMF withheld the funding, the government had also relaxed import restrictions put in place in December.