Tax Target Na Mukamal...Mini-Budget Risk Increase | Shehbaz Rana's Shocking Revelations - video Dailymotion

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#tax #imf #minibudget #pakistaneconomycrisis #pakistandefault #mariamemon #pmshehbazsharif #mariamemon #sawalyehhai   Tax Target Na Mukamal...Mini-Budget Risk Increase | Shehbaz Rana's Shocking Revelations

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00:00The core problem facing the government and the people of the country is economic stability.

00:11We have seen that the government has failed to achieve its goal of tax.

00:18Shahbaz Rana has given a report in the Express Tribune.

00:24According to the report, despite imposing a heavy tax of Rs 1.8 billion,

00:29the government has failed to achieve its goal of tax in the first two months of the year.

00:34In July and August, the FBI had to collect a tax of Rs 1,554 billion,

00:39but the tax revenues have been less than Rs 111 billion compared to the target.

00:43On the one hand, the failure to achieve its goal of tax has raised questions on the $ 7 billion loan from the IMF.

00:48On the other hand, the government has increased the possibility of bringing in a mini-budget.

00:54According to the government, the annual goal of tax collection in the budget was Rs 13,000 billion,

00:59which is expected to be brought in a mini-budget to achieve.

01:02The mini-budget will further impose taxes on the income of fertilizers, imports, professionals and contractors.

01:09Government sources say that the IMF has stipulated strict conditions to achieve the goal of tax collection to launch a new loan program.

01:16According to the agreement between the IMF and the government,

01:19if the government of Pakistan fails to achieve its goal of tax, additional measures will be taken.

01:25During this week, we saw that the traders are also protesting.

01:29The tax government is trying to impose on them.

01:31The traders are trying to bring two schemes.

01:33On the one hand, they are outrightly rejecting the IMF.

01:36On the other hand, they have succeeded in reversing some of the benefits.

01:40Of course, if you have the power to shut down the market, you can do this.

01:48But the other classes of Pakistan, for example, can't do this.

01:52They don't have the luxury.

01:54On the other hand, the agenda of the IMF meeting on September 4th has not been included in it.

02:02Pakistan is waiting for the final approval of the 7 billion dollar loan program from the IMF.

02:06But the executive board of the IMF has issued a schedule for September 4th,

02:10in which Pakistan's name is not mentioned.

02:12The government of China, Saudi Arabia and the United Arab Emirates have also agreed to roll over the 12 billion dollar loan.

02:18Pakistan has also requested for another 1.2 billion dollar loan from Saudi Arabia.

02:22The purpose of which is to fill the financing gap of 2 billion dollars.

02:26The responsibility of Pakistan is already in the form of 5 billion dollar cash deposits.

02:29In this regard, the Saudi loan is a must.

02:31Pakistan has 4 billion dollar loan from China and 3 billion dollar cash deposits from the United Arab Emirates.

02:36On the agenda of August 28th, I saw that Pakistan's name was not mentioned.

02:40Mr. Shahbaz Rana is with us in the program.

02:42He is a senior journalist.

02:44Mr. Mehtab Haider is a senior journalist.

02:46He keeps an eye on economic matters.

02:48Mr. Shahbaz, let's start with you.

02:50Two times, Pakistan's name was not mentioned on the agenda.

02:52What is the reason for this?

02:54Is it related to taxes?

02:56In the name of Allah.

02:58The latest IMF calendar has been issued until September 9th.

03:02Pakistan is not included on the agenda until September 9th.

03:05There are two major reasons for this.

03:08First of all, the rollover of 12 billion dollar cash deposits.

03:13We have not been able to get it yet.

03:15Except the United Arab Emirates, it has probably rolled over 1 billion dollars.

03:19In addition, there is a Chinese commercial loan of 4 billion dollars.

03:22Scheduling for that has not been extended yet.

03:25Apart from these two things, the third thing, which is more worrying for the government,

03:30is that a new loan of 2 billion dollars is required.

03:33In which the government of Pakistan is trying to get oil financing from Saudi Arabia.

03:43And apart from this, a commercial loan of 600 to 800 million dollars from the United Arab Emirates.

03:49So, there has been no success on these fronts yet.

03:52This is why you can see that Pakistan is not on the agenda until September 9th.

03:56And along with this, there is a shortfall of the FBI.

03:59You were talking about 111 billion.

04:02This was until Friday evening.

04:04Now, the final number has come.

04:06Their monthly shortfall is still up to 102 billion rupees.

04:10Despite this, in the last 2-3 days, the FBI has taken undue tax advances.

04:16Even then, they have made a shortfall of around 100 billion.

04:20And if they want to reach their goal of 26-52 billion rupees,

04:26then they still have to collect around 1200 billion rupees.

04:31This month of September has started.

04:33So that they can be saved from the mini-budget, which is not going to happen.

04:37So, the situation here is that if the IMF takes the case of Pakistan's board in September,

04:46then it will be a matter of financing, which we will have to roll over the loans.

04:50And if, God forbid, this case goes in October,

04:53then the numbers of September will be seen by the IMF and the FBI.

04:57And then the mini-budget will also be discussed.

04:59And then it is possible that it will go to the board.

05:01So, the situation at the moment has become very complicated.

05:03And over and above, the subsidy that our Punjab government gave,

05:07it gave a message to the IMF that this nation is not serious.

05:11Although, we know that people needed that subsidy.

05:14Because it is not the fault of the people,

05:16that theft and nonsense should be imposed on them in the form of power tariffs.

05:19But the message from that subsidy was that the budget has just been passed.

05:23The staff level agreement has just been made.

05:25They took a subsidy of 50 billion rupees and gave it to the IMF.

05:28There is a subsidy of 50-60 billion rupees from the Punjab government.

05:31So, if they continue to do this, then things are getting complicated.

Tax Target Na Mukamal...Mini-Budget Risk Increase | Shehbaz Rana's Shocking Revelations

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