IMF official spells out goals of Pakistan's new programme

Director Communications International Monetary Fund (IMF) Julie Kozack said that they can assist in forming a policy that could create the basis of a medium-term reform programme for Pakistan, ARY News reported.

Addressing a press conference, she said that the IMF had the Pakistan Commission from May 13 to 23 and the negotiation with with the country on a new loan programme is underway.

She said that the new loan programme is aimed at the implementation of policies to stabilise Pakistan’s economy and improve its resilience.

Julie Kozack said that the programme also aims to support Pakistan’s economic growth and improve the standard of living for its citizens.

“The IMF’s 2023 Stand-By Arrangement programme helped Pakistan achieve economic stability,” she added

Julie Kozack said that the IMF is committed to supporting Pakistan in achieving its economic goals.

Read more: Pakistan ‘hopes to secure’ fresh IMF loan program in July

Pakistan has ‘agreed’ to the imposition of tax on agriculture income during talks with the International Monetary Fund (IMF), ARY News reported on Thursday, citing sources.

International Monetary Fund (IMF) officials held virtual negotiations with the provincial officials of Pakistan for the new loan programme.

Sources said the IMF officials urged the provincial authorities to slap tax on agricultural income, which the provinces of Pakistan reportedly agreed upon.

The provincial governments of all four provinces of Pakistan sought time to submit a plan for imposing tax on agricultural income. The plan would be submitted to the IMF by July 12.

The sources further said that the tax on agriculture income will be slapped from yearly income of Rs600,000.