Karachi: The government has decided to increase gas prices again from January 2024.
Caretaker Finance Minister Dr. Shamshad Akhtar while talking to the media said that the IMF has been informed about the revision of energy sector tariffs, the decision to impose additional taxes on various sectors including real estate and retailers has not yet been decided.
The finance minister said that achieving the tax target of Rs 9415 billion of FBR is the first priority, if there is any shortfall in the tax revenue, then additional measures will be taken. have done.
“This year there is a possibility of receiving 2 billion dollars of funds from the World Bank.”
Dr. Shamshad Akhtar said that after the agreement with the IMF, the rating will improve, after that bond issuance will be considered, it is likely to receive 2 billion dollars of funds from the World Bank this year, ADB. , the Islamic Development Bank and the Asian Infrastructure Bank are also likely to receive a total of $1 billion.
“If there is time, the new program will also be discussed with the IMF.”
He said that Pakistan’s economy has improved, a lot of work is needed for further improvement, it is important for Pakistan to remain in the IMF program, at this time the completion of the $3 billion program is a priority. The new program will also be discussed.
“Pakistan will not face external financing gap”
The caretaker finance minister said that it is important to stay with the IMF until exports increase and local resources are created. No pre-conditions have been set for the second tranche of $70 crore.
He said that Pakistan will not face external financing gap, efforts are on to obtain financing from alternative sources, there is a plan to obtain financing from various countries, international organizations and commercial financing.
Will reduce government spending and energy prices, Finance Minister
Earlier, the Caretaker Federal Finance Minister had said that government expenditure and cost of energy will be reduced.
Addressing the Feature Summit, Caretaker Federal Finance Minister Shamshad Akhtar said that under the agreement with the International Monetary Fund (IMF), the cost of energy will be reduced.
He said that the foreign exchange reserves of State Bank have increased from 4 billion to 7 billion dollars. The task of the caretaker government was to stabilize the economy and implement the IMF program. After the implementation of this program, a program of 7 billion dollars is to be taken from the IMF.
The federal minister further said that Pakistan is consolidating its foreign exchange reserves, which increases the confidence of investors. In the staff level talks with the IMF, financial management has been agreed upon. Reducing government spending and reducing the cost of energy.
In his address to the conference, the caretaker federal minister said that a staff-level agreement has also been reached for the provision of another 700 million from the IMF. Policy regarding energy sector improvement and cost reduction