IMF deal will be signed soon, don’t ask when: Tarin thumbnail

IMF deal will be signed soon, don’t ask when: Tarin

Advisor to PM on Finance and Revenue Shaukat Tarin said
that the International Monetary (IMF) debt program will be resumed soon but
refused to give any timeframe.

“The deal with the IMF will be signed soon, don’t ask when,” said Shaukat Tarin on Monday.

The advisor admitted that the rupee has devalued. The rupee,
however, will regain its value once the IMF program is signed, he said.

Tarin said that the IMF has five set pre–conditions for the resumption of loan program.

Pre-conditions include making the State Bank of Pakistan
independent and ending all exemptions, tax holidays and incentives.

Experts believe that the recent hike in electricity and
petroleum prices were done on the IMF’s demands,

Pakistan has been in talks with the international lender for
restoring the IMF’s $6 billion debt program and the release of the next tranche
of $1 billion.

Responding to a question, Shaukat Tarin assured that there
will be no more increase in the price of electricity.

I don’t want to say anymore, please try to understand, he
said. “There are many prior actions required.”

He said that the law ministry is finalising the bills
regarding the State Bank of Pakistan and tax exemptions.

According to the agenda of the joint session of the parliament to be held on November 17, 2021, the government plans to table the State Bank of Pakistan banking services corporation amendment bill 2021 on Tuesday, November 18.

Pakistan to get $3billion Saudi Arabia in two days

Advisor to PM on Finance and Revenue Shaukat Tarin has said
that Pakistanwill receive the $3 billion dollar from Saudi Arabia in next two
days.

Supply of oil from Saudi Arabia on deferred payments will
also start soon, he added.

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