IMF makes new demands every day due to which problems are faced, there is demand for dollars for pilgrims due to Hajj flights, Chairman Pakistan Forex Exchange Association



Karachi (Urdu Point Newspaper Latest. 07 June 2023) Malik Bustan says that the IMF has made the government dance the triple dance, the IMF makes new demands every day. According to the details, Chairman Pakistan Forex Exchange Association Malik Bustan, speaking in the Geo News program Geo Pakistan, said that there are Hajj flights and there is a demand for dollars for the pilgrims. Dollar rate will fall.

He said that the IMF makes new demands every day, because of them they are facing problems and the loan agreement has been deadlocked for six months. The Prime Minister also spoke to the IMF, but the IMF did not believe him. Now he has said that a staff level meeting is going to be held.
It should be remembered that the IMF has demanded a reduction in the expenditure of the federal and provincial governments.

Before the budget, there was a communication between Pakistan and the IMF, the IMF demanded to set the target of tax revenue more than 10 thousand billion rupees. According to the sources, Pakistan has convinced the IMF to proceed with the negotiations, Pakistan also requested the IMF to enter into staff level agreements. While the budget estimate for the next financial year is Rs 16.6 trillion, last year's budget was Rs 9.5 trillion.

In the upcoming budget, the proposal to increase the taxes on luxury items and money withdrawal from the bank is under consideration. There is also a possibility of increasing the duty on mobile phones worth more than 100 dollars in the budget. In the budget, it is proposed to increase the salaries of government employees by 20 percent and pension by 15 percent. In the budget, sales tax is likely to be increased from 15 percent to 18 percent. The target of FBR has been set at Rs 8200 billion which was Rs 7000 billion last year.