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Sixth Reviewed Fund Facility to Be Presented to IMF Board

Islamabad: The Finance Ministry announced Thursday (December 23) that the sixth review of the USD 6 billion Extended Fund Facility (EFF) will be presented to the board of the International Monetary Fund (IMF) on January 12 in order to release the USD 1 billion tranche.

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Pakistan, according to the Finance Ministry, will need to comply with IMF standards before to the deadline for submitting the review. Among the past acts are the State Bank of Pakistan (Amendment) Bill, an increase in energy prices, and the elimination of tax breaks.

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PKR 360 billion in tax exemptions will be revoked via a mini-budget, according to the specifics. In the interim, the National Assembly will ratify the SBP’s, Autonomy Bill. When the IMF delegation rejected the idea of proposing the budget through presidential edict, the administration reportedly withdrew the mini-budget, which included the Tax Laws (Fourth Amendment) Bill. The IMF has reportedly demanded that the government get legislative support for the Tax Laws Amendment Bill and the SBP Autonomy Bill.

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