*ISLAMABAD: A high level session and briefing under the supervision of thePrime Minister of Pakistan, Imran Khan over the state of economic affairsin the country was held today, Monday.*

Financial advisor to the state, economic team briefed the attendees aboutthe terms and conditions finalized with International Monetary Fund (IMF)with regards to it’s economic program for the country and amnesty scheme.

The economic team answered questions raised by members of the Nationalassembly.

Members of National assembly inquired, will the IMF program negativelyimpact the lives of a commoner?

The answer to this by the financial teams was, that the amount allocatedfor the country’s ‘Income Support Program’ initiative was being raised from100 to PKR180 billion along with subsidies in the power sector, primarilygas and electricity worth Rs200 billion.

It was assured in the meeting that increased prices and taxation will notaffect 75 percent of the general population.

‘Tax documents of a property can be shared and shown by paying only 4% intaxes of the total price.’

Resolve was expressed to roll back subsidies of industries that were notbringing revenue.

The amnesty scheme will allow declaration of assets after paying 4% of thetaxes.

“We care about the poor, we are striving to provide a better living to thecommon citizen, we are trying our best to minimize the effect of economicturmoil on the impoverished,” said the PM.

“We are facing troubled circumstances due to difficult economic conditionsprevalent in the country, we will take the country towards greener pasturesvery soon,” he added.

The Financial advisor to the state, Abdul Hafeez Sheikh also briefed theproceeding and the members of the National assembly who expressed theirreservations on the increasing rate of inflation in the country.

Shiekh assured that the institutes who have now turned into white elephantswill not receive additional funds in the garb of subsidy.

Members of the parliament also raised pertinent questions over an incumbentincrease in gas and electricity tariffs.

Touching upon the economic implications a common citizen might face afterthe loan is received, Hafeez said: “If prices of electricity see anincrease, then a user consuming 300 or less units will not be effected byany new taxes that might be imposed, 75 percent of electricity consumers inthe country use 300 units or less.”

Sheikh announced allocation of an additional Rs. 50 billion as subsidy tobe provided on electricity, and an additional Rs. 180 billion that havebeen approved for the social safety net.

“The government’s ‘Ehsas’ program is a part of the social safety net,”Shiekh said.

He also announced a subsidy of Rs. 216 billion for the consumers that use300 or less units.