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Baner Club > Blog > Business > Govt “fulfils all requirements” for new bailout agreement with the IMF
BusinessPakistanPolitics

Govt “fulfils all requirements” for new bailout agreement with the IMF

"We hope to culminate this (IMF) process in the next three to four weeks," says state minister for revenue

Last updated: 2024/07/03 at 4:03 PM
Published July 3, 2024
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As one of Reform UK’s leaders, I adore who I am. The party cannot be racist. I disagree that our party is much to the right.

Benyamin Habib, the multimillionaire tycoon, is the full name of the right-wing organization Reform UK, which has openly advocated against Muslims and opposes immigration to the UK. Nigel Farage, the leader of Reform UK, has received tens of thousands of pounds from this organization. PM Rishi Sunak was subjected to racist abuse by one of the party’s prominent figures, who was exposed last week.

About fifty years ago, Habib traveled from Karachi to the UK to attend a boarding school for wealthy children. In an effort to give him a better opportunity at life, his parents sent him to a private school in the UK. KARACHI: After meeting all of the demands of the lender in its yearly budget, Pakistan is hoping to finalize a staff-level agreement on an IMF rescue of over $6 billion this month, stated Minister of State for Finance, Revenue, and Power Ali Pervaiz Malik on Wednesday.

Even as outrage over new tax measures grows domestically, the coalition government led by the Pakistan Muslim League-Nawaz (PML-N) has set ambitious revenue targets in its annual budget to assist it secure approval from the IMF for a loan to prevent another economic collapse.

The government has raised taxes on the already burdened salaried class in the budget, brought exporters within the regular tax system, raised the gasoline charge to Rs70, and added additional real estate levies.

About fifty years ago, Habib traveled from Karachi to the UK to attend a boarding school for wealthy children. In an effort to give him a better opportunity at life, his parents sent him to a private school in the UK. The Minister stated during a news conference in Islamabad, “I’m very optimistic that we’ll be able to take it through the finish line for an Extended Fund Programme which is going to be larger and longer in nature.”

According to Malik, the purpose of presenting a difficult and unpopular budget was to prepare the ground for an IMF program. Based on their discussions, the lender was happy with the revenue measures implemented, Malik stated in today’s conversation.

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BanerClub July 3, 2024 July 3, 2024
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