Pakistan to share it’s Chinese Package Report to IMF:

Pakistan to share it's Chinese Package Report to IMF:

According to the latest news, The finance minister Asad Umar stated that Pakistan is ready to submit it’s MEFP (Memorandum of Economic and Financial Policies) plan to IMF (International Monetary Funds). This report is all summed up for Pakistan’s financial policies and report that will help IMF to make some more fund issue plan to Pakistan. IMF on last days claimed that Pakistan will be provided funds only to save its economy and so for themselves whereas funding from IMF will no longer be allowed for repayments of any loans, as Pakistan was involved in CPEC project with China and so is in debt of about $60 million. It was claimed by the IMF that Pakistan can use the fund to protect its economy but not to repay any loans. The MEFP plan that has been submitted to IMF combines the policy for economic and financial funding policies. The finance minister added further that if IMF will ask for further more information they will no longer share it according to the sources since they’ve understood that IMF will add up on their report. They MEFP plan clearly states the economic plan where the fiscal policy and GDP will be increased and 4% of deficit money will be decreased.

The finance minister stated, the funds that will be received from IMF will be used making up the housing and building areas as standing up for an infrastructure which is not that easy but it will be done. He said that the government is more likely intimidated adding and commencing home to people and so increase the trading rate as well with enhancing the exports of Pakistan. He added that government will is going to take some major steps to bring the people out of the economic crisis and devastating policies.

This time the program is considered to get to new changes soon, the policies will be revised as it will increase the rate and low the value to decrease the deficit amount. The adjustment seems pretty adjustable but it isn’t and so it was estimated to its minimum. It was clearly understood when estimating that around $1 trillion is required to change or adjust the report with all the fiscal policy details. The MEFP plan confirms that with the return of $30 million per month on the charge of the project they will be able to repay the loan within 2 years if they go according to the plan. The government is about to make a new report on taxation on revenues earned and other economic policies. IMF asked for whole agricultural, non-cultural, taxation and other fiscal and GDP reports as they want the complete charge on Pakistan’s economic and socio-cultural policy. According to some sources, IMP will send some coordinators to Islamabad after the Christmas and New Year Eve’s holiday, they will send their coordinator for the bailout package, for finalizing the MEPS report and for the confirmation of the final approval.

According to the reports that in earlier years Pakistan was not charging the tax as much as it was required and so the funding from direct tax was not up to the policy and that is why it was claimed that the policies are about to change and so it will bring up high tax rate for a few years to get rid of the old and revised tax from the revenues.

According to the US (United States) report, Pakistan was forced to answer all the questions for IMF loan. In the latest news report, Mr. Asad Umar replied that Pakistan is not hiding anything from anybody and so Pakistan will submit the Chinese project report to IMF before signing any report and before being asked fo the same.