Express ☺ your view, expression on this post, via Facebook comment in the below box… (do not forget to tick Also post on facebook option)

Friday, April 12, 2019

Next budget to be made in light of IMF programme - Asad meets Facebook, Uber, Procter & Gamble, Coca Cola and Pepsico at a roundtable conference

Next budget to be made in light of IMF programme - Asad meets Facebook, Uber, Procter & Gamble, Coca Cola and Pepsico at a roundtable conference


–-IMF team to visit Pakistan this month to finalise modalities 

–Sources claim govt and IMF will be able to conclude deal before June

–World Bank president lauds Pakistan’s reform process, assures continued support

 ISLAMABAD: Pakistan and International Monitory Fund (IMF) have reportedly finalised the talks for the next bailout programme and have agreed to move forward towards the staff level agreement, it has been learnt.

According to sources, after the positive talks with the IMF officials in Washington, the Fund would be sending its mission to Pakistan this month to finalize the agreement.

“We can say that both sides have finalized talks after which the staff level mission will be visiting to finalize the Memorandum of Economic and Financial Policies (MEFP), to be presented the same to IMF Board for a final agreement,” said an official. “With the finalization of the remaining process, the final agreement for next bailout package will most likely conclude near June/before next financial year.”

The financial budget of 2019-20 will be made in light of the IMF programme, he claimed.

Minister of State on Revenue Hammad Azhar, during a press conference on Thursday, also claimed that the talks with IMF officials went positive. “We will decide about modalities of the agreement when the staff level mission arrives in Pakistan,” he added.

Apart from other conditions, Dr Ashfaq Hassan, renowned economist, said that the IMF’s condition of generating 34pc more revenue (Rs5.4 trillion) was unrealistic and difficult to meet.

On the other hand, he added, unlike the IMF’s targets, the Federal Board of Revenue has already proposed the government to fix its target in the range of Rs5.1 trillion in the next budget 2019-20 against revised estimates of Rs4.1 trillion for the outgoing financial year.

Apart from the revenue side, curtailing of primary balance within the desired limits will be the biggest challenge for the government to strike the initial agreement (staff-level), sources said.

Ahead of the talks in Washington on next bailout programme, IMF had projected a sharp decline in GDP growth rate for Pakistan from 5.2pc in 2018 to 2.9pc in 2019 and a further decline to 2.8 in 2020. It projected a sharp rise in inflation from 3.9pc in 2018 to 7.6pc in 2019.

IMF in its latest report “World Economic Outlook (WEO), Growth Slowdown, Precarious Recovery” states that in the absence of further adjustment policies in Pakistan, growth is projected to remain subdued at about 2.5pc, with continued external and fiscal imbalances weighing on confidence.

As per official statement of Ministry of Finance, Finance Minister Asad Umar held a series of meetings with the IMF and World Bank official as part of the IMF/World Bank Spring Meetings 2019.

Umar met the new head of the World Bank David Malpass and briefed him on Pakistan’s macroeconomic situation. They also discussed the continuation of Pakistan’s ongoing engagement with the bank. Malpass appreciated the reform process in the country and assured continued World Bank support.

During his meeting, World Bank officials assured him of complete cooperation with Pakistan.

He also met officials of the IMF, including its First Deputy Managing Director David Lipton, and spoke about the ongoing negotiations with the IMF.

The finance minister also met members of the US-Pakistan Business Council and assured them that the government is working to facilitate foreign investors.

“We are trying to make it easier for foreign companies to invest in Pakistan,” he told companies like Facebook, Uber, Procter & Gamble, Coca Cola and Pepsico at a roundtable conference.

The companies expressed keen interest in Pakistan’s market and shared their future plans as well as issues where they needed support from the government.

Read on source





SHARE THIS

Author:

Thanks for visiting our website. Like our FB pages and subscribe for daily updates; you can comment on the above post bellow ↓with your Google id or Facebook id – Thank you for your time..☺

0 comments:

Follow us on social media to get instent updates....

|Twitter| |Facebook| |Pinterst| |Myvoicetv.com|
Example

Send your news/prs to us at myvoicetv.outlook.com..

Note: The views, comments and opinions expressed on this news story/article do not necessarily reflect the official policy or position of the management of the website. Companies, Political Parties, NGOs can send their PRs to us at myvoicetv@outlook.com

 
‎لطیفے اور شاعری‎
Facebook group · 8,142 members
Join Group
یہ گروپ آپ سب کے لئے ہے۔ پوسٹ کیجئے اور بحث کیجئے۔۔۔۔۔ اپنی آواز دوسروں تک پہنچائے۔۔۔اور ہاں گروپ کو بڑا کرنے کے لئے اپنے دوستوں کو بھی گروپ میں دعو...
 

All Categories

Aaj Kamran Khan ke Saath Aamir Liaquat Hussain Aapas ki Bat NajamSethi Abdul Qadir Hassan AchiBaatain Afghanistan Aga Khan University Hospital AirLineJobs Allama Iqbal America Amjad Islam Amjad Anjum Niaz Ansar Abbasi APP Aqwal Zareen Articles Ayat-e-Qurani Ayaz Amir Balochistan Balochistan Jobs Bank of Khyber Banking Best Quotes Biwi Jokes Blogger Tips Chaltay Chaltay by Shaheen Sehbai China Chitral Coca-Cola Coke Studio Columns CookingVideos Corporate News Corruption Crimes Dr Danish ARY Sawal Yeh Hai Dubai E-Books EBM Education Educational Jobs Emirates English #Quotes English Columns EnglishJokes Funny Photos Funny Talk Shows Funny Videos Gilgit-Baltistan Girls Videos Govt Jobs HabibJalibPoetry Hamid Mir Haroon Al-Rashid Hasb-e-Haal with Sohail Ahmed Hassan Nisar Hassan Nisar Meray Mutabaq Hazrat Ali AS Sayings HBL Health HikayatShaikhSaadi Hospital_Jobs Huawei Hum Sab Umeed Say Hain India Information Technology Insurance International News Islam Islamabad Islamic Videos JammuKashmir Javed Chaudhry Jazz Jirga with Salim Safi Jobs Jobs Available Jobs in Karachi Jobs in KPK Jobs in Pak Army Jobs_Sindh JobsInIslamabad Jokes Jubilee Insurance Kal Tak with Javed Chaudhry Karachi Kashmir KhabarNaak On Geo News Khanum Memorial Cancer Hospital Khara Sach With Mubashir Lucman Khyber Pakhtunkhwa Lahore Latest MobilePhones Lenovo LG Life Changing Stories LifeStyle Live With Dr. Shahid Masood Live with Talat Hussain Maulana Tariq Jameel MCB Bank Microsoft Mobilink Mujeed ur Rahman Shami Munir Ahmed Baloch Nasir Kazmi Nazir Naji News News Videos NGO Nokia North Korea Nusrat Javed Off The Record (Kashif Abbasi) Off The Record With Kashif Abbasi On The Front Kamran Shahid OPPO Orya Maqbool Jan Pakistan Pakistan Army Pakistan Super League Pashto Song Photos Poetry Political Videos Press Release Prime Time with Rana Mubashir PTCL Punjab Quetta Quotes Rauf Klasra Samsung Sar-e-Aam By Iqrar-ul-Hasan Sardar Jokes Saudi Arabia ShiroShairi Show Biz Sikander Hameed Lodhi Sindh Social Media Sohail Warriach Songs Sports News Stories Syria Takrar Express News Talat Hussain Talk Shows Technology Telecommunication Telenor To the point with Shahzeb Khanzada Tonight with Moeed Pirzada Turkey Tweets of the day Ufone University Jobs Urdu Ghazals Urdu News Urdu Poetry UrduLateefay Video Songs Videos ViVO Wardat SamaaTV WaridTel Wasi Shah Zong اردو خبریں
______________ ☺ _____________ _______________ ♥ ____________________
loading...