Pak Govt reshuffles economic team to gear up for new IMF-backed tax regime
December 21st, 2010 - 6:12 pm ICT by ANI
Islamabad, Dec 21 (ANI): The Pakistan government has pulled up its socks to fulfil the commitments it made to the International Monetary Fund (IMF), as it reshuffled its economic team to gear up for the imposition of the Reformed General Sales Tax (RGST) regime.
In a meeting, President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani decided to take Dr Waqar Masood Khan as Secretary Finance in place of Salman Siddiq, The Nation reported.
Siddiq has now been made Chairman Federal Board of Revenue (FBR), which is a demotion in technical terms, as the Revenue Division is part of the Finance Ministry.
Suhail Ahmed, who was looking after the FBR as Chairman, has been transferred as Secretary Planning and Development Division.
At the same time, the PPP leadership has also given a go-ahead to Finance Minister Abdul Hafeez Shaikh to apply for an extension in the standby loan programme of the IMF.
Seeking an extension beyond December 31 means reaffirming the Pakistan government’s commitment to impose the RGST in addition to meeting rest of the conditionality, the paper said.
According to sources, the programme is most likely to be extended for three to six months. “Pakistan has asked for an extension and the IMF board is considering the request,” said one source based in Pakistan. (ANI)
- Pakistan vows to net 700,000 tax evaders - Dec 14, 2011
- IMF refuses talks with financial crisis-hit Pakistan on restoring 11.3-bn-dollar package - Feb 01, 2011
- IMF to review Pakistan economy - Oct 17, 2011
- Pak will pay "heavy price" over failure to meet international commitments: Finance Min - Nov 24, 2010
- IMF considers Pak economic policymakers 'cheaters and liars': Ex-official - Apr 26, 2011
- Multilateral donors halt budgetary support to Pakistan, seek IMF's 'Letter of Comfort' - Feb 01, 2011
- Pakistan got Rs.972 bn as taxes in past seven months - Feb 03, 2012
- Pakistan's economic indicators positive: minister - Dec 20, 2011
- IMF warns Pak Govt. to enforce tax reforms or lose much-needed funds - Feb 12, 2011
- IMF delegation extends Pak visit to finalise pending economic policy issues - Mar 09, 2011
- Pakistan expecting $981mn US disbursement by June - Apr 27, 2011
- Pak Govt revises economic plan to reduce fiscal deficit, win over IMF - Jan 22, 2011
- Pakistan revenue collection up 25 percent - May 20, 2012
- Pak Finance minister to promote foreign investment in IMF, WB meetings - Apr 16, 2011
- 24 commodities dearer in Pakistan in Ramzan's first week - Aug 07, 2011
Tags: conditionality, demotion, economic team, fbr, finance ministry, gilani, imf board, imposition, international monetary fund, international monetary fund imf, masood khan, pak govt, pakistan government, salman, secretary finance, suhail ahmed, tax regime, waqar, yousuf, zardari