Finance Ministry- The New Indian Express

By ANI

ISLAMABAD: Pakistan’s Finance Ministry on Sunday said that their deal with International Monetary Funds (IMF) will be sealed by Monday as the organisation plans to hand over the economic and financial policy for the renewed deal providing economic relief package to Islamabad.

Pakistan Finance Minister Miftah Ismail in the National Assembly said that although the country is common with the negative comments made by the financial quarters it looks very likely that the restoration of the IMF programme is in the offing.

Moreover, Prime Minister Shehbaz Sharif had asserted that the terms with the International Monetary Fund (IMF) had been finalised and the deal will close soon, barring any other conditions set by the global lender.

Earlier on Friday, the Shehbaz Sharif government increased the tax rates for the salaried class to fulfil the demand of the IMF. It had withdrawn the tax relief to the salaried class announced on June 10 and the Federal Board of Revenue (FBR’s) collection target was increased to Rs 7,470 billion, reported Geo News.

On Personal Income Tax (PIT), the government raised a tax amount of Rs 80 billion as first, the government abolished tax relief of Rs 47 billion and then raised a tax amount of Rs 35 billion, so the FBR was going to collect Rs 235 billion from salaried class in the next budget against a collection of Rs 200 billion in the outgoing fiscal year.

The Ministry of Finance high-ups disclosed that all IMF’s…