E-Paper PDF 12th February 2020 (LHR)

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Wedesday, 12 February, 2020 I 17 Jamadi-ul-Sani, 1441 I Rs 20.00 I Vol X No 224 I 16 Pages I Lahore Edition

IMF brIngs down revenue target to rs4.8tr g

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SOurCeS Say gOvt May InCreaSe PetrOleuM DevelOPMent levy tO Meet revISeD target gOvt tellS IMf It CannOt InCreaSe gaS PrICeS Or IMPOSe aDDItIOnal revenue COlleCtIOn MeaSureS ISLAMABAD SHAHZAD PARACHA

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He International Monetary fund (IMf) has accepted the federal Board of revenue’s (fBr) request to decrease the revenue target from rs5,238 billion to rs4,800 billion, Pakistan today has learnt. according to informed sources,

the IMf team, which held talks with the government’s economic team, slashed down the revenue target, thus making this the second time that the international lender has agreed to the government’s demands. fBr officials told Pakistan today that the department can collect rs4,800bn in the current fiscal year. In addition to this, sources said that there is a possibility that the gov-

ernment may increase the petroleum development levy to meet the revised target. “according to the government’s estimate, they can collect rs80bn to rs100bn through the imposition of PDl,” sources added. So far, in the first seven months of the current fiscal year, the tax department has collected rs2,406bn against the revised target of rs2,509bn. However, the economic team

Govt approves Rs10bn relief package g

feDeral CaBInet BanS Sugar exPOrtS But allOwS IMPOrtS tO enSure a COntInuOuS SuPPly In tHe Market STORY ON PAGE 03

Opp blasts govt over record inflation g

BIlawal HIgHlIgHtS DISCrePanCy In InflatIOn rate, SayS PtI HaS run ‘flOunDerIng’ eCOnOMy IntO tHe grOunD STORY ON BACK PAGE

IHC questions sedition, terrorism charges against protesters STORY ON PAGE 03

IHC restores PMDC, nullifies newly-formed PMC STORY ON PAGE 03 more inside

LHC dismisses Hamza’s bail plea in assets case STORY ON PAGE 05

Shehbaz Sharif not returning to Pakistan anytime soon STORY ON BACK PAGE

Govt used GIDC funds for other expenses, SC told STORY ON PAGE 02

Modi’s BJP bites the dust in Delhi state polls

STORY ON BACK PAGE

has clearly told the IMf that they will not impose additional revenue measures or announce a mini-budget in the coming months. “the government is expecting non-tax revenue from privatisation during the current fiscal year,” sources said. Moreover, officials of the finance Ministry told the IMf team that they are controlling the government’s expenditures and are likely to reduce the Public Sector Development Programme’s (PSDP) funds from rs701bn to rs601bn. Sources also said that the government’s economic team told the IMf that they cannot increase gas prices at the time as the economic Coordination Committee (eCC) had deferred a summary in this regard last month. Sources further said that the IMf

team will meet the national assembly’s Standing Committee of finance on wednesday (today). reportedly, the IMf delegation also expressed concerns about the adverse impacts of the coronavirus outbreak on the Pakistani economy. the IMf team was concerned that badly affected the Chinese economy will also have a spillover effect and may slow down Islamabad’s gDP growth.

CONTINUTED ON PAGE 03

Shabbar Zaidi says he's not going anywhere, at least for now STORY ON PAGE 03


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