finance minister Miftah Ismail

ISLAMABAD: A day before the announcement of new budget for the fiscal year 2022-23, the coalition government highlighted the performance of the economy for the outgoing fiscal year with provisional …

“The IMF has asked for 100% withdrawal of subsidy on POL products. Once the subsidy is over, the government will have to impose taxes and petroleum levy,” Miftah said, adding …

The total reserves with the central bank have dropped to $9.722 billion as of May 27, 2022, while the commercial banks hold $6.048 billion reserves. The SBP’s reserves are equal …

“Government is still facing losses of Rs8 on light diesel, Rs9 on petrol, and Rs23 on high-speed diesel,” says Finance Minister Miftah Ismail.

The minister said that Pakistan has requested the Fund to extend the program by one year and provide an additional $2 billion.

Massive increase in tax collection target in upcoming financial year will require imposition of additional taxes, withdrawal of agriculture tax exemptions and increase in tax burden on the salaried class.