The government has reportedly reached an agreement with the InternationalMonetary Fund (IMF) to implement a windfall tax, potentially reaching up to40%, on profits generated by banks.
This information surfaced on Wednesday following the conclusion ofpolicy-level discussions between the government and an IMF delegation,which wrapped up on Tuesday.
According to reports, the IMF team is scheduled to depart from Pakistan onThursday. Despite their departure, the government remains optimistic,anticipating positive developments regarding the release of the secondtranche.
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In pursuit of fiscal objectives, the government aims to gather around Rs55billion through the windfall tax. This tax is intended to target profitsfrom the fiscal years 2021 and 2022. Notably, the collection of this tax isexpected to take place in the upcoming month.