Categories: Latest News

Miftah Ismail departs for Washington to meet IMF officials for revival of loan facility

Finance Minister  Miftah Ismail has departed for Washington in the wee hours of Thursday.

The newly appointed Finance Minister of the country will be seeking the revival of the $6 billion International Monetary Fund (IMF) programme signed by the PTI government.

Finance Minister Miftah Ismail’s name has been removed from the no-fly list for five days for one time so that he could travel to the US for negotiations with the IMF. 

“I am off to Washington DC to try and put back on track our IMF programme that PTI and [Imran Khan] derailed, this endangering our economy,” Miftah Ismail tweeted.

 

The finance minister on Wednesday revealed that IMF has put five major demands before the Shehbaz Sharif government for slashing down the primary deficit by Rs1,300 billion through withdrawal of fuel subsidy of Rs150 billion on monthly basis and taking additional taxation measures for reviving the stalled Fund programme.

According to the finance minister following five conditions have been put by IMF:

  • Withdrawal of fuel subsidy
  • Doing away with the tax amnesty scheme
  • Increasing power tariff
  • Taking additional taxation measures
  • Reducing the development programme by Rs100 billion to bring it down to Rs600 billion through the Public Sector Development Program (PSDP) by the end of the current fiscal year

A day earlier Finance Minister Miftah Ismail in his maiden press conference lambasted the Pakistan Tehreek-e-Insaf (PTI) for derailing the International Monetary Fund (IMF) programme as he expressed the government’s resolve to get the programme back on track to revive the ruined economy.

Addressing a press conference on Wednesday, he said that the growth rate in the Nawaz Sharif era was 6.1 percent and the PTI government had taken it to negative.

NewsDesk

Recent Posts

  • Latest News

PTI rejects the Commission of Inquiry constituted to probe the contents of the judges’ letter

Pakistan Tehreek-e-Insaf (PTI) has rejected the formation of an inquiry commission by the federal government…

7 hours ago
  • Celebrity News

Did Agha Ali confirm his separation by revealing he is living alone? Netizens think so

Did Agha Ali confirm his separation from Hina Altaf by revealing that he is living…

7 hours ago
  • Celebrity News

Sahiba finally meets her biological father for the first time in her life

Sahiba has met her biological father for the first time in her life! The emotional…

8 hours ago
  • Bollywood News

Aditi Rao Hydari and Siddharth are now engaged!

Bollywood actors Aditi Rao Hydari and Siddharth are engaged! As reported, Aditi Rao Hydari and…

8 hours ago
  • Latest News

KSE-100 index hits new all-time high of 67,142 points

The KSE-100 index hits a new all-time high of 67,142 points on Thursday. The Pakistan…

15 hours ago
  • Latest News

Magnitude 5.3 earthquake jolts northern areas of Pakistan

A magnitude 5,3 earthquake jolted northern areas of Pakistan on Thursday at around 4 pm.…

15 hours ago