Islamabad: Federal Finance Minister Ishaq Dar has categorically stated that Pakistan will not take loans from the IMF on any conditions.
Responding to the points raised by the opposition members on the budget in the National Assembly‚ Finance Minister Ishaq Dar categorically stated that Pakistan will not take loans from the IMF on any conditions.
The Minister said the IMF has been told that no new taxes will be imposed to achieve the tax collection targets. Even if the IMF did not give us loan‚ we will not impose new taxes but efforts will be made to achieve the collection target.
Ishaq Dar said that tax to GDP ratio needs to be enhanced to stabilize the economy.
The Minister said the government has not presented any mini budget but included reasonable recommendations of the members including ten percent increase to the government employees in the Finance Bill.
On the GST‚ Ishaq Dar said we have restricted ourselves to the judgement of the Supreme Court. He clarified that the GST collected from 13 June to 21 June will remain with the national exchequer as per the orders of the apex court. He also clarified that no tax has been imposed on Hajjis but on the income of tour operators.