Govt to Introduce Supplementary Budget at Staff-level Agreement
Islamabad: According to press reports, Shaukat Tarin, the prime minister’s financial advisor, announced the creation of a supplemental budget to satisfy IMF standards.
The declaration followed a staff-level agreement between the government and IMF about the USD 6 billion Extended Fund Facility (EFF).
The budget will include a net fiscal adjustment of more than PKR 550 billion for the remaining fiscal year 2021–2022, according to the press release (FY22).
The government, according to him, has agreed to five changes, including a 22% reduction in development funds worth approximately PKR 200 billion, an increase in the general sales tax target of PKR 300 billion, a PKR 4 per liter tax on gasoline, and an audit of the Covid-19 funds and the disclosure of their beneficial owner.
The adviser also mentioned that the government would submit a bill to parliament asking for State Bank of Pakistan (SBP) autonomy in regards to monetary policy, exchange rates, and hiring decisions; nevertheless, the SBP will continue to be accountable to parliament.
Read: Pakistan Expects to Get $4 Billion Financing from Friendly Nations
The adviser added that the Federal Board of Revenue (FBR), which has already collected PKR 225 billion in the first four months of FY22, will increase the government’s annual revenue tax projections from PKR 5.8 trillion to PKR 6.1 trillion.
It is important to note that Pakistan will receive USD 1.059 billion following the modification of tax objectives and fiscal measures, increasing the total amount of EFF disbursements to around USD 3.027 billion.
For more updates, stay tuned to Al Sadat Marketing News!
You can also invest in other famous and most in demand housing societies, such as , Blue World City, Rudn Enclave, 7 Wonders City Peshawar, Taj Residencia, Kingdom Valley, New Metro City Gujar Khan, Forest Town Rawalpindi, University Town Rawalpindi, ICHS Town, Park View City Islamabad, Multi Gardens B17 Islamabad and Nova City Islamabad.
Al Sadat Marketing please contact 0331 1110005 or visit https://alsadatmarketing.com/
Few more real estate housing schemes which are trending now a days in Islamabad by including: Faisal Town Phase 2, Prism Town Gujar Khan, New City Paradise, Eighteen Islamabad, 7 Wonders City Islamabad, Capital Smart City, Silver City Islamabad, The Life Residencia, Faisal Town Islamabad, Islamabad Golf City, Islamabad Model Town and Marble Arch Enclave.
Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.
Book Your Plot Now: +92 331 111 0005
