00:00 Pakistan and IMF negotiations are going on at a fast pace in the stock exchange. The index has crossed the limit of 74,000. But the process of dictation has begun before the negotiations.
00:14 The first meeting and first round of negotiations between the IMF and Pakistan has been held today. The two days of the meeting will be followed by a discussion on the reforms of the IMF and FBR. The process of increasing the income of the tax will be considered.
00:29 A draft has also been submitted to the Pakistan government to fulfill the terms of the package. Pakistan has been restricted in the meeting that the state bank, FBR, the Ministry of Treasury and the Ministry of Finance will be restricted from sending all information to the IMF.
00:42 The state bank will not take loans for future budget expenses. International transactions have also been allowed while restricting the IMF. The sum of the subsidy on the Pakistan-Tawanae will not exceed 800 billion rupees. The budget for the next meeting has also been decided.
00:58 The budget for the next meeting will be presented on June 7. The initial budget for the expenses will be 16,700 billion rupees. The budget for the income will be 11,000 billion rupees. The budget for the expenses on interest and loans will be 9,700 billion rupees. The total amount of the subsidies will be more than 1500 billion rupees.
01:15 The direct taxes of 5,300 billion rupees, the federal excise duty of 680 billion rupees, the custom duty of 1100 billion rupees, the non-tax income of 2100 billion rupees, the sales tax of 3800 billion rupees will be collected.
01:29 The government will collect 1,100 billion rupees from the public at the cost of the petroleum levy. The Minister of Treasury, Mohammad Aurangzeb, believes that reforms will be made, the tax net will be increased, facilities will be provided, but reforms will not be done and will not go back.
01:43 Because if this is done, then we will have to go to the 25th program. In this regard, in terms of privatization, in terms of the strategic state of state-owned enterprises, there is also a contradiction in the statements of the Minister of Treasury and the tax officer.
01:58 The non-filers are being blocked. The FDR has decided to impose a withholding tax on non-filers by more than 5,70,000 rupees. That means you will get only 10 rupees on a card of 100 rupees.
02:13 We have Senior Sahabi Shabaz Rana with us. Thank you very much for being with us. We are in such a weak position that it is by and large a dictation.
02:28 In the current negotiations between Pakistan and the IMF, neither the IMF nor the Ministry of Treasury has declared it. This is a very important point that both sides have not yet declared it as a program negotiation.
02:51 This means that the IMF is currently assessing the situation in Pakistan and if it understands that the program can be signed with Pakistan after the assessment, then it will start negotiations related to the program.
03:10 The numbers that you have just mentioned will be based on the fact that when the negotiations of the program will start, there will be meetings. Today, the Minister of Treasury met, Friday, the FDR officials met, and today the people of the Power Division met.
03:29 So, the assessments are being made. Will these assessments be translated into a program during this visit or not? Both options are open. It can be done or not.
03:43 The rates and prices of electricity and gas are increasing. Our reserves have increased. Investment talks are also being made with Saudi Arabia and other countries. What exactly is the issue? What is the IMF trying to assess?
04:01 The previous program ended successfully, but the other goals related to it were not achieved. Despite the IMF program, Pakistan was unable to obtain loans from foreign commercial banks.
04:16 Despite the IMF program, the international credit rating agencies did not improve the credit rating of Pakistan, which is why Pakistan was unable to float the Euro bond.
04:29 Despite the fact that Pakistan's foreign exchange reserves amounted to 8 to 9 billion dollars, it also has 5.5 to 6 billion dollars in it, which the State Bank of Pakistan has purchased from within Pakistan.
04:44 So, the overall benefit of participating in the IMF program is that the blocked financing pipelines are not being opened.
04:56 The biggest issue that is being discussed is the political stability of Pakistan, which the IMF has also mentioned in its report. The political stability of Pakistan is a major concern of the IMF.
05:16 The IMF has also given a subsidy of 23 billion rupees to Pakistan. This is not a good sign. The IMF's mission in Pakistan is to assess the capacity of the current government to take difficult decisions and implement them.
05:36 The issue of revisiting the NFC award has been raised by Mr. Murad Ali Shah. He has said that he has had three meetings with the Prime Minister and two meetings with the Finance Minister, but no one has talked about revisiting the award.
05:48 This issue has always been on the agenda and even today, without taking the name of the NFC, it has been said that the disparities in federal and provincial taxation need to be addressed.
06:05 When there was a protest in the AJK, the price of food was lost, people were injured, and even the common people, the citizens, were also affected, the PM of Pakistan stepped back and gave a subsidy of 23 billion rupees.
06:20 This is not a good sign. The IMF has also mentioned in its report that the population of the Azad Jamiun Kashmir is about 400,000. If a program is implemented on a country of 25 crores, it will be so severe that we are also reporting on the issue of the salary class, the taxation of pensioners, the withdrawal of subsidies, and the increase of the tax on the farmers.
06:40 This is what we were talking about, that the Azad Jamiun Kashmir is a country of two laws, and I hope that the dust in my mouth does not spread.
06:50 During the protest, the Foreign Minister said that the Muslim League Nawaz government will give the necessary guarantees to the state-owned institutions, whereas the Finance Minister said that there is no concept of strategic state-owned institutions.
07:10 I think the media cannot understand this. Let me explain what happened.
07:18 A few days ago, the board of the Privatization Commission categorized 85 institutions of the commercial government of Pakistan and sent a list to the Cabinet's Investigations Committee, which is chaired by Foreign Minister Ishaq Dar.
07:33 The list of 85 institutions was classified, and the board of the Privatization Commission said that the list should be privatized. The board of the Privatization Commission said that the list should be privatized.
07:48 How can we describe strategic and essential? This is the work of the Cabinet Committee on State-Owned Enterprises, which is chaired by the Minister of Treasury, Mohammad Aurangzeb.
08:03 The board of the Privatization Commission will decide which institutions are strategic and which are not. The committee will also decide on the basis of the SOE policy.
08:18 Pakistan is going to visit Pakistan. It has been said that there have been changes in the history of the visit of the Prime Minister. No official announcement has been made yet. Is the IMF waiting for him or is he waiting for the IMF program?
08:33 I would say that if you want to make a big personality like Mohammad bin Salman a leader of Pakistan, then something big should be done. If there is no big agreement in Pakistan, then there is no point in the visit of a big personality like Mohammad bin Salman.
08:53 The government can get support, but there is no benefit on the economic or commercial front. When the benefit is seen on both sides, then the visit will be made.
