ISLAMABAD, June 16: Federal Planning Minister Ahsan Iqbal on Thursday said that the much-awaited deal with International Monetary Fund (IMF) will be reached in next 10-12 days.
He said this while talking to the media informally after addressing a press conference at the Press Information Department (PID). The minister said the agreement will be signed, for $1 billion tranche within two weeks as apparently, Pakistan has acceded to demands of the global lender and no big hindrance is in place.
Iqbal said the IMF objected to income tax exemption to those earning Rs1.2 million per annum in the fiscal year 2022-23. To a question, the minister said his suggestion of less tea consumption was taken as a joke and asked what would happen if a person drinks two cups of tea instead of four daily.
He emphasized that less consumption of tea would save Pakistan billions of rupees every year. Earlier, while addressing the media at PID, the federal minister said the rise in petrol price is due to the global oil prices citing that the government is selling the commodity at breakeven price.
He added that the prices of daily-use commodities including oil are rising in the global market. He added that the government has already slashed all kinds of taxes and duties on the oil to keep its price lower.
Iqbal said that the wheel of economy runs with the development budget but in the past, the defense, and development budgets were kept equivalent. However, the PML-N government has reserved Rs450 billion for the development in the budget 2022-23 after years. -DNA
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