Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
IMF loan not needed if Saudi Arabia helps: Tarin
11-04-2008, 06:51 AM
Post: #1
IMF loan not needed if Saudi Arabia helps: Tarin
ISLAMABAD (November 04 2008): Prime Minister's Adviser on Finance Shaukat Tareen on Monday said that all sectors of economy should be brought into the tax net for fair play and promotion of tax culture in the country. In an interview to VOA, he admitted that the government has to make difficult political decisions for improving taxation system in the country.

Replying to a query, he said all issues have been resolved with the IMF technical team and the next phase of the talks will focus the payment. He said first time in the history of the country agriculture sector would be brought under tax net.

Tareen said he has full support from President Zardari for improving the tax system adding that the tax rate will be enhanced to bring it to 15 percent of the gross national income. He said borrowing loans from the IMF is one of our last options to cope with the current economic crisis. Pakistan has presented the plan to the IMF, which sent a team to Dubai to analyse the plan.

Now negotiations with it have concluded successfully, he remarked. The IMF will take our plan to its board by November 15, he added. "We are going to Saudi Arabia on November 4 and 5 so we will not require the IMF support in case we succeed in getting money from Saudi Arabia. But I think that the IMF has accepted our conditions so we will try to take it from Friends of Pakistan," he said.

"We want to present a comprehensive solution to the current economics issue. The IMF has not given its own plan or co-ordination and we are carrying on talks on our own terms." He alleged that the previous government did not raise prices with the fear that it would make the then ruling party unpopular during the election year."

If there is any proposal from the stock exchanges relating to the reduction in capital value tax (CVT), then this could be reviewed in the next budget, he added. He said if the proposal for slashing the CVT was sent, then it could be seriously considered but only in the next budget.

http://www.brecorder.com/index.php?id=830592
Quote this message in a reply
Post Reply 


Possibly Related Threads...
Thread: Author Replies: Views: Last Post
  Pakistan receives US$2 billion in financial support from Saudi Arabia LRE-Azan 0 594 04-08-2023 02:21 PM
Last Post: LRE-Azan
  China rolls over $2bn loan to Pakistan: Foreign Minister Ishaq Dar LRE-Azan 0 584 04-01-2023 01:02 PM
Last Post: LRE-Azan
  State Bank Remove Loan Limit for Real Estate Sector Salman 0 5,849 01-07-2014 02:29 PM
Last Post: Salman
  Saudi Fund announces $57m for Golen Gol Hydropower Project Salman 0 6,863 11-20-2013 03:19 PM
Last Post: Salman
  Legislation needed to regulate private housing schemes Salman 0 3,511 06-05-2012 12:42 PM
Last Post: Salman
  CDA seeks loan for LED project Salman 0 3,508 03-15-2012 01:12 PM
Last Post: Salman
  CM announces Rs 20bn loan package for youth Salman 0 4,548 03-09-2012 12:21 PM
Last Post: Salman
  Pakistan ranks second on Arabia Fast Growth platform Salman 0 4,075 12-04-2011 02:21 PM
Last Post: Salman
  Expo helps entrepreneurs show products to foreign buyers Salman 0 4,283 10-25-2011 12:22 PM
Last Post: Salman
  HBFCL launches home renovation loan scheme Lahore_Real_Estate 0 3,555 10-05-2011 01:24 PM
Last Post: Lahore_Real_Estate
  Lahore Waste Management Company Gets Rs 500 Million Loan! LRE 0 4,954 03-07-2011 08:07 PM
Last Post: LRE
  SBP Increase Personal Loan LImit Upto Rs 3.0 Million LRE 0 4,104 01-08-2011 12:54 AM
Last Post: LRE
  Student Loan Programme Lahore_Real_Estate 0 4,217 12-23-2010 02:03 PM
Last Post: Lahore_Real_Estate
  Haj scam: FIA team leaves for Saudi Arabia today Lahore_Real_Estate 0 3,971 12-13-2010 01:34 PM
Last Post: Lahore_Real_Estate
  Funds needed to build small dams Lahore_Real_Estate 0 3,827 12-13-2010 01:26 PM
Last Post: Lahore_Real_Estate
  Hajj Odyssey Part 1: Pakistani and Saudi models of governance resemble starkly Lahore_Real_Estate 0 4,284 12-08-2010 01:53 PM
Last Post: Lahore_Real_Estate
  WikiLeaks: Saudi plan for anti-Hezbollah force Lahore_Real_Estate 0 4,231 12-08-2010 01:11 PM
Last Post: Lahore_Real_Estate
  US pressing for Saudi help in Pakistan Lahore_Real_Estate 0 3,096 12-04-2010 12:47 PM
Last Post: Lahore_Real_Estate
  Saudi warns US of possible attack: report Lahore_Real_Estate 0 3,973 11-06-2010 12:31 PM
Last Post: Lahore_Real_Estate
  Corruption in Hajj Ministry & Saudi Prince LRE 3 9,230 11-05-2010 10:38 AM
Last Post: LRE

Forum Jump:


User(s) browsing this thread: 1 Guest(s)