Ishaq Dar: No new tax on agriculture, construction sectors

F.P. Report

ISLAMABAD: Finance Minister Ishaq Dar said Friday that there would be no new tax on the construction and agriculture sectors, adding that inflation could be reduced to seven percent in two years if efforts were made.

The finance minister presented the documents of the agreement with the International Monetary Fund (IMF) in the National Assembly.

“This practice demands transparency. Whatever important developments happen in the country, they should be presented in the National Assembly,” he pointed out.

“The Letter of Intent was signed on June 30 last. I would like to request that copies of the three documents should be kept in the library,” he said.

“The IMF’s ninth review was due in November. There are 11 or 12 reviews of an IMF agreement. We are trying that the current IMF programme ends before the new government comes so that the latter could decide freely,” he added.

“When we took over the government, the State Bank had $6 billion while the reserves of the country were $14 billion. We have received $1.9 billion of the IMF’s ninth review,” he stated.

“There are [only] rumours about tough terms in the IMF deal. We are making efforts to leave the government with the reserves of the country in a better condition. Efforts are also being made to reduce the storm of inflation,” he asserted.