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December 6, 2014

IMF approves last tranche for Pakistan: NA told

 
December 6, 2014

ISLAMABAD: Parliamentary Secretary for Finance, Rana Muhammad Afzal Khan informed the National Assembly on Friday that the negotiations of the government with International Monetary Fund (IMF) remained successful and it approved the last tranche.
Replying to a question during the question hour in the House, he said the Federal Board of Revenue (FBR) is striving for a uniform rate of Sales Tax on all commodities and efforts are being made to eliminate the concessionary regimes.
He said the standard rate of sales tax is 17 percent. The secretary said it is not the mandate of the federal government to make any modification in the NFC Award at its own. It is the mandate of the National Finance Commission (NFC), which has representation of all the four provinces.
He said at present no proposal for withdrawal of money of National Savings Schemes through ATM is under active consideration as the implementation is not possible because a large amount of data of investors is not computerised.