US still to pay Pak 1.5 bn dollars for 9 months as support for War on TerrorFebruary 20th, 2009 - 1:37 pm ICT by ANI
Islamabad, Feb 20 (ANI): Pakistans Finance Adviser Shaukat Tareen has said that arrears of coalition support for the War on Terror have increased to 1.5 billion dollars since May 2008.
We have asked them to at least release 100 million dollars per month and scrutinise the remaining claim of 50 million dollars for subsequent disbursement and they have termed it as a good suggestion, he told reporters after inaugurating a one-day workshop on the Medium Term Budget Framework (MTBF).
He said that Pakistan would forward its formal request for an additional 4.5 billion dollars to bridge the financing gap owing to losses of the war on terror to the International Monetary Fund (IMF) authorities at the IMF-World Bank annual meeting in April.
Responding to a question on the IMF review of Pakistans economy underway in Dubai, he said that review is going well and there would be a positive outcome.
To a question on the waiver on the revenue collection target, the adviser admitted Pakistan would seek such waivers in future too, as revenue collection in the first half of the fiscal year had seen a shortfall of Rs 23 billion, the Daily Times reported.
The adviser said he was not aware of any demand by the Federal Board of Revenue for property tax collection, and said the country needed an increase in the tax-to-GDP ratio at 15 percent in medium term.
Elimination of all tax exemptions except in food and life-saving drugs was also required, he added. Tareen said the depreciation of Pakistani rupee was the main reason behind the high prices of petroleum products. (ANI)
- Minister upbeat on Pakistan's economy - Sep 28, 2011
- Gilani accepts Pakistani finance minister's resignation (Lead) - Feb 23, 2010
- IMF delegation extends Pak visit to finalise pending economic policy issues - Mar 09, 2011
- IMF refuses talks with financial crisis-hit Pakistan on restoring 11.3-bn-dollar package - Feb 01, 2011
- Pakistan economy collapsing - Jan 31, 2011
- IMF conditions 2nd instalment of loan for Pakistan - Dec 21, 2008
- Currency worth over Rs.1 tn circulating in Pakistan - Aug 13, 2009
- IMF to start critical review of Pakistan economy to decide further action - Mar 01, 2011
- No compliance, no money: International Monetary Fund to Pak - Apr 12, 2010
- Pakistan got Rs.972 bn as taxes in past seven months - Feb 03, 2012
- Flood-hit Pak asks IMF to restructure 11-bln dollar loan - Aug 24, 2010
- Now, IMF pressurises Pak Govt to 'cut tax exemptions' to meet revenue collection target - Feb 05, 2011
- IMF warns Pakistan of budget deficit - Dec 31, 2010
- IMF considers Pak economic policymakers 'cheaters and liars': Ex-official - Apr 26, 2011
- Pak needs five bln dlrs to avert BoP crisis - Oct 22, 2008
Tags: 9 months, arrears, billion dollars, budget framework, coalition support, collection target, disbursement, formal request, gdp ratio, imf world, international monetary fund, international monetary fund imf, pakistani rupee, petroleum products, property tax collection, shortfall, tareen, tax exemptions, waivers, war on terror