During the next fiscal year, the government will not borrow from the State Bank of Pakistan, external payments will be made on time without delay, bonds will be issued in the international market for improving foreign exchange reserves and payments. Reports
Monday, May 13, 2024
Islamabad (Urdu Point Newspaper Latest. May 13, 2024) On behalf of the federal government, the Ministry of Finance and the International Monetary Fund (IMF) have agreed on important targets for the upcoming budget. According to media reports, the sources say that after the agreement with the IMF, the government will not take loans from the State Bank of Pakistan during the next financial year, external payments will be made without delay and in a timely manner, in addition to the FBR tax refund. Payments will be committed on time, State Bank, Ministry of Finance, Ministry of Energy information will be sent to IMF, FBR, Bureau of Statistics, Market Based Exchange Rate information will be taken by IMF while improving foreign exchange reserves. And bonds will be issued in the international market for payments and imports will not be banned, international transactions will also not be banned.
It is being told that the IMF has given a new list of demands in the policy guidelines of the upcoming budget. Economic challenges have been revealed before the budget negotiations, instructions have also been given not to increase the circular rate of electricity and gas in the next budget, to shift to tubewell alternative energy in the next budget and to end the subsidy on electricity for industries. Also directed, indicated to end concessional gas rates for industries.
Sources have said that the IMF has informed in its guidelines that electricity and gas rates should be fixed in time for the next financial year, tubewell subsidies should be removed in the next budget, without energy reforms, Pakistan's economy is at risk. However, exceeding the budget in the energy sector in the upcoming budget may be dangerous, the collection of electricity and gas bills should be improved in the next financial year.
