Islamabad: The Finance Ministry on Thursday (December 23) confirmed that the sixth review of the USD 6 billion Extended Fund Facility (EFF) will be presented before the board of International Monetary Fund (IMF) on January 12 for disbursement of USD 1 billion tranche, according to media reports.
According to details from the Finance Ministry, Pakistan will have to fulfil the conditions imposed by the IMF before the set date to present the review. The prior actions include the State Bank of Pakistan (SBP) (Amendment) Bill, an increase in energy tariff, and withdrawal of tax exemptions.
As per the details, the tax exemption of PKR 360 billion will be withdrawn through a mini-budget. Meanwhile, the SBP’s Autonomy Bill will be passed through the National Assembly approval. It was reported that the government has withdrawn the mini-budget which includes the Tax Laws (Fourth) Amendment Bill because the IMF team refused the proposal of presenting the budget through a presidential ordinance.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
