The Finance Ministry has begun procedures to release $1.1 billion of the IMF’s $7 billion. As a plan for early 2025, Pakistan intends to meet challenging IMF standards for its first economic assessment. Official records underline the government’s goals, including Rs6,009 billion in tax revenue by December 2024 and Rs9,168 billion by March 2025. To ensure transparency in its tax policy, the government will not grant any new tax amnesties or concessions to businesses.
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To meet the IMF’s requirements, the government will change the Civil Servants Act by February 2025, mandating asset statements from officials and their families. Furthermore, tax collection on provincial agricultural income will begin shortly. The Finance Ministry intends to build risk management systems at tax units around Islamabad, Karachi, and Lahore. On top of it, BISP stipends would increase by Rs3,000. These measures are consistent with the government’s goal of setting energy sector liabilities at Rs417 billion and terminating gas supply to captive power units by January 2025. “The government is committed to meeting the IMF’s targets,” a spokesperson stated.
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