The International Monetary Fund (IMF) has set a new condition for Pakistan to resume its loan program.
According to media, the IMF has set strict condition on Pakistan to resume the loan program, under which items on which the government has given tax exemptions will also have to impose a sales tax of 17%. Under the new IMF condition, the sales tax rate on mobile phones is also likely to be raised to 17%.
At the demand of IMF, government is preparing to abolish the sales tax exemption of Rs 330 billion, while a presidential ordinance will be brought to abolish the sales tax exemption.
On the other hand, in Washington, Pakistani Federal Minister for Finance Shaukat Tareen, while talking to a US think tank, expressed hope that the sixth installment would be received from the IMF soon. So far, technical meetings with the IMF have been completed.