Tarin Hopes IMF Programme To Continue
Federal Minister for Finance Shaukat Tarin, ruling out any disagreement between Pakistan and International Monetary Fund (IMF), on Monday said the Extended Fund Facility (EFF) programme would continue as both wanted it to move forward
ISLAMABAD, (UrduPoint / Pakistan Point News - 14th Jun, 2021 ) :Federal Minister for Finance Shaukat Tarin, ruling out any disagreement between Pakistan and International Monetary Fund (IMF), on Monday said the Extended Fund Facility (EFF) programme would continue as both wanted it to move forward.
The minister said there was no danger of Pakistan coming out of the programme or its break down. The sides would definitely evolve an understanding, as the way Pakistan had chosen for sustainable growth would eventually convince the IMF, he added.
He said the both the IMF and the government were desirous of structural reforms. Pakistan, however, was working on the reforms keeping in view the ground realities, while the Fund wanted the same instantly.
He said the IMF wanted to make some sectors of the economy, including power, financially viable and Pakistan's target was also the same but it had adopted a path different than the one suggested by the former.
He said the Fund also desired to enhance the revenues by removing exemptions. Pakistan, however, would utilize technology for the purpose to broaden the tax-base instead of burdening the existing taxpayers, he added.
He said the IMF had agreed to continue discussions and monitor the results of the policies adopted by the government for two or three months. The 6th IMF review scheduled in July would now be held two months later, he added.
The minister categorically denied the accusations and claims made by a political party, saying the revenue target of Rs 5.8 trillion, which was set on the basis of logic, was achievable.
He said the Rs 5.5 trillion target for the FY2020-21 could not be achieved as the base was just Rs 3,700 billion with economy growing on 2 percent but the next year's target was logically achievable with the base of Rs 4,700 billion.
It offered relief packages for the poor, interest-free loans to the farmers, house building loans to help the low income class to build their own homes, besides giving Sehat Cards and skill development training to the youth to make them employable.
The minister said he was ready to have a debate with the opposition parties on the budget. There might be shortcomings or someone might disagree with the budget assumptions, but it was injustice to say that Shaukat Tarin was not telling the truth, he added.
He said the last Pakistan Muslim League-Nawaz government had done nothing to improve the exports, which remained stagnant. The exports during the Pakistan Peoples Party regime had stood at $25 billion.
To a question, the minister said the loans to farmers and for business would be provided through non-banking institutions or through NRSPs.
The finance minister challenged the PML-N leaders to come and debate with him on the budget, as he was ready remove their doubts. The budget had accommodated all. It had something for every segment of the society, he added.
To another question, Tarin said the government had protected the people and did not enhance petroleum prices. He, however hinted that if the prices did not come down in international market, the government would have to pass on the impact to the masses. And in case the prices came down, the same would also be passed on to the masses, he added.