ISLAMABAD , July 21, 2023: The coalition government has no plan of imposing new taxes on agriculture and real estate sectors, says Finance Minister Ishaq Dar.
Speaking on the floor of the National Assembly on Friday, he said he wanted to make it clear in letter and spirit that “no new tax” would be imposed on agriculture or real estate as the government had already endured much pain in fulfilling the conditions set by the International Monetary Fund (IMF).
The global lender approved a $3 billion bailout programme for Pakistan, out of which $1.2bn was immediately disbursed to help save the ailing economy.
According to some media reports, the international lender had asked the government for a plan to impose taxes on the real estate and agricultural sectors before release of the remaining amount.
The finance minister told the lower house that the people representing the agriculture sector – for which the government expanded the loan volume from Rs1,800 billion to Rs2,250 billion in the budget – had showed concerns over the reports.
He said the government would pass no further burden on the masses as all the commitments made with the IMF were on the finance ministry’s website, adding all prior actions laid down by the lender had been completed.
Dar reasserted that the agreement with the IMF was done in a “transparent” manner.
“It is our effort to bring down the inflation. He said that according to State Bank of Pakistan, the inflation will come down to 7 percent in two years’ time if the consistency in policies continued.”
On the occasion, the Finance Minister also placed before the House the documents pertaining to the standby agreement reached with the IMF.
Saudi Arabia and the United Arab Emirates (UAE) have deposited $3bn in Pakistan’s central bank in the last two days. China has rolled over $5bn in loans in the last three months to save the country from default.
On Thursday, the FinMin said the total liquid foreign reserves of the country clocked in at $14.06bn dollars. In a tweet, he said the State Bank of Pakistan’s reserve position was also highest since October last year.
— Islamabad Airport to be outsourced for 15 years —
The National Assembly (NA) was informed today that Islamabad International Airport will be outsourced for fifteen years after a competitive bidding process.
Responding to a calling attention notice, Minister for Aviation Khawaja Saad Rafique told the House that about twelve companies have shown their interest in the operations of the Islamabad International Airport. He said the outsourcing process of Islamabad International Airport will be completed in next two and a half month.
The Minister said airports of Lahore and Karachi will also be outsourced, stressing that best international practices will be emulated at our airports. He assured that employees will not be laid-off.
Expressing concerns of huge deficit of Pakistan International Airline, the Minister emphasized for its restructuring, assuring that rights of the employees will be protected. He said that PIA’s flight operation to UK will resume in the next three months which will be followed by resumption of flights to European Union and US.
On a point raised by Salahuddin of Muttahida Qaumi Movement, Speaker Raja Pervez Ashraf directed the Capital Development Authority to ensure timely completion of Yadgar-e-Dastoor and Bagh-e-Dastoor in the federal capital.
The Speaker had performed groundbreaking of these projects at the start of golden jubilee celebrations of the Constitution of Islamic Republic of Pakistan 1973.
Raja Pervez Ashraf said that the matter will be taken to the privileges committee if non-seriousness was witnessed towards the construction of Yadgar-e-Dastoor and establishment of Bagh-e-Dastoor.
The House will now meet again on Monday at 5pm.