Pakistan and the International Monetary Fund (IMF) have agreed not to raise interest rates further in policy-level talks.
Today is the last day of talks between Pakistan and the IMF mission and sources say that the economic review talks with the IMF mission are close to success.
According to the sources, the IMF mission and the economic team have completed the talks in all sectors, the caretaker finance minister Shamsmad Akhtar completed the policy-level negotiations with the IMF mission, today the IMF mission and the economic team have completed the MEMORANDUM OF ECONOMIC AND FINANCIAL POLICIES (MEFP) draft is likely to be prepared.
According to the sources, the windfall tax on the profits of banks will be imposed for the financial years 2021 and 2022, the windfall tax on the profits of banks will be collected next month.
Sources from the Ministry of Finance say that there is no need to amend the Finance Bill to levy windfall tax on banks, but the approval of the Federal Cabinet is necessary.
According to sources in the Ministry of Finance, it has been agreed between the parties not to increase the interest rate further. I am likely to meet.
