PM Imran Khan rejects draft agreement with IMF

PM Imran Khan rejects draft agreement with IMF
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ISLAMABAD - Over strict terms and conditions posed by the International Monetary Fund (IMF) on Pakistan for a bailout package, Prime Minister (PM) Imran Khan has rejected the draft of a staff-level reached between the Ministry of Finance and the IMF representatives.

In this regard, the PM has summoned an important meeting on Monday to examine financial affairs, the tax amnesty scheme and the IMF deal. Several members of the federal cabinet will also attend the meeting.

According to sources, the premier seeks soft terms and conditions from the IMF regarding inflation, particularly relaxation in a larger tax rebates and exemptions.

Moreover, PM Khan has directed concerned officials to persuade the IMF for a reduced tax collection target.

Earlier, the prime minister had held two meetings with Adviser on Finance and Economic Affairs Dr Abdul Hafiz Sheikh, in which the latter briefed the former about the IMF deal.

Contrarily, the government has accepted several demands of the IMF , including the increase in electricity and gas prices in the country.

Economy