In a recent development, the Pakistani government has informed the International Monetary Fund (IMF) about its decision to potentially raise gas prices once again in January. The caretaker finance minister, Shamsad Akhtar, addressed journalists during a briefing on the IMF program, shedding light on the financial measures being consider.
Despite discussions surrounding additional taxes on real estate and retailers, the finance minister clarified that no decision has reached on imposing such taxes at this time. The government is aiming to collect Rs. 9.415 trillion in taxes through the Federal Board of Revenue (FBR), with contingency plans for additional measures should there be a shortfall in tax collection.
The recent issuance of a $1.5 billion international bond and ongoing negotiations with the IMF are part of Pakistan’s strategy to address financial challenges. Shamsad Akhtar emphasized that improved ratings expected after the agreements with the IMF, and considerations will made for issuing bonds to further stabilize the economy.
As the government navigates these financial matters, the caretaker finance minister highlighted the importance of Pakistan’s continued participation in the IMF program for economic stability. The completion of the $3 billion program remains a top priority, with discussions on potential new programs with the IMF if time permits.
With a possibility of receiving $2 billion funds from the World Bank in the current fiscal year, the government is actively working to secure financial support. Shamsad Akhtar stressed the need to initiate work for the last installment of the $1.1 billion under the loan program, emphasizing that the IMF has not set any prior conditions for the second installment of the $70 billion.
As Pakistan prepares for potential increases in gas prices, these financial measures and consultations with the IMF underscore the government’s commitment to addressing economic challenges and ensuring a stable financial future.
 about its decision to potentially raise gas prices once again in January. The caretaker finance minister, Shamsad Akhtar, addressed journalists during a briefing on the IMF program, shedding light on the financial measures being consider.){kind=link}