Federal Minister for Finance Miftah Ismael said on Monday that the government-International Monetary Fund (IMF) deal was expected in a day or two, reported 24NewsHD TV channel.

Talking to the media in Islamabad, he dispelled the impression that there was any deadlock with the Fund over the payment of salaries.

He said the government planned to tax the rich people while exempting those who were poor.

There is a lot of uproar over the government’s negotiations with the IMF these days as there has been an unprecedented increase of Rs84 per litre in the price of petrol by the government in just two weeks.

And the hike in petroleum products’ prices is one of the conditions laid down by the Fund for the deal.  

Similarly, the money lending organization has also demanded excessive taxation from the government, which certainly will have a direct impact on the lives of ordinary people.

Only six days ago, on June 14, 2022, the government had agreed to accept the demand of the International Monitory Fund (IMF) to withdraw the income tax exemption proposed in the budget for the fiscal year 2022-23.

Sources, however, told 24News that the government had decided that the relief given to the low-paid classes will be maintained.

The sources said the government was considering raising the amount of income tax on the people receiving monthly salaries of above Rs500,000.

The sources further said that consultations with the IMF were still going on and efforts were being made not to burden the people with income tax, drawing monthly salaries between Rs1,00,00 and Rs2,00,000.

Also six days back, the global lender has expressed its concerns over budget asking Pakistan to take more strict measures in terms of tight fiscal discipline if it wants the revival of the $6 billion loan programme.