Finance Minister Miftah Ismail informed Prime Minister Shehbaz Sharif on Tuesday that Pakistan could get $2 billion from the International Monetary Fund (IMF).
“Miftah Ismail relayed a message in the morning stating that we should receive $2 billion from the IMF, rather than $1 billion. I responded by stating that obtaining independence is our true objective. Easier said than done, “Minister of Planning and Development’s “Turnaround Pakistan” meeting.
The prime minister emphasized the need for all sectors to work together for the country’s prosperity, as well as the need for independence. He stated that self-reliance ensures political and economic independence.
The prime minister’s remarks came hours after Ismail’s announcement that the nation has received combined economic and financial objectives for the seventh and eighth assessments of its IMF bailout program.
About the recent inauguration of a massive development project in Bangladesh, PM Shehbaz stated that his counterpart had boasted that they had accomplished this feat without the assistance of international donors.
“Certainly, this is a major accomplishment,” he said, adding that Pakistan lacked neither resources nor skills.
He mentioned Reko Diq as evidence that Pakistan had squandered billions on a project that had yet to yield a profit. Prime Minister Shehbaz stated that Pakistan was submerged in debt, stating that the country’s liabilities vastly outnumbered its assets.
The establishment of the 1,200-megawatt Haveli Bahadur Shah Power Plant by the previous PML-N administration was lamented.
“When you take into consideration the electricity we were scheduled to receive, which was intended to power the farm sector, our businesses, and provide work for millions of people, it is clear that we suffered a tremendous loss.”
The prime minister stated in his speech that Pakistan had nothing to show for its seventy-five years of freedom. “But wailing over spilled milk will accomplish nothing,” he remarked.
A few weeks ago, he said, there was a risk that the country would run out of edible oil. He stated he has written and spoken with Indonesian President Joko Widodo over this matter.
“The Indonesian president indicated he would issue instructions,” he added, adding that he directed a minister to travel to Indonesia on his dime and remain there until the vessels departed for Pakistan.
“This is one illustration. When you desire employment, various doors open.”
Prime Minister Shehbaz continued by stating that Pakistan was confronting a multitude of problems and urging the nation to rise above personal interests and conflicts.
“New regimes blame their predecessors. We must decide on altering the country’s destiny, and to do so, we must work day and night. Until this is accomplished, we will continue to move in circles “he remarked.
“Builders and furniture retailers will be taxed”
In his speech, the finance minister announced that the government will tax builders and furniture retailers.
“I will bring builders, real estate brokers, automobile dealers, and carpenters within the tax net. And I would make things simpler for them,” he said, emphasizing that Pakistan could only become “self-sufficient” if it did so “If all citizens, even the wealthy, paid taxes.
“We have placed taxes on the sons of the prime minister. I am paying more in taxes. We can only ask the nation to sacrifice if we make sacrifices ourselves “He indicated.
He reasoned that the government had imposed direct taxes rather than indirect taxes because direct taxes were non-inflationary. This year, we will collect 33 percent more tax revenue than the previous year, which is an accomplishment.
Even though Pakistan was no longer in danger of defaulting on its debt, the minister advised that the government and the people must proceed with caution and “maintain discipline.”
He also thanked the people for their support of the government and its comprehension of the need to increase gasoline and diesel prices.
