While speaking to the Standing Committee of Senate on finance & economics Asad Umar said that the government is reviewing the suggestions to increase tax and tariff on imports and in this regard.
The Finance Minister expressed possibilities to decrease the tax rate on imported raw materials and told that related finance bill will be presented in January 2019.
Asad Umar said that though it is deplorable to approach International Monetary Fund (IMF), but hopefully it would be last loan Pakistan is going to secure to steer economy out of crisis .
He said that the economic crisis is prevailing globally. During previous five months not only Pakistan but other countries including India, China, America and many others had to face decline in the stock markets.
Talking about recent bailout package announced by he said that Saudi Arabia will supply oil to Pakistan on deferred payments in addition to $6 billion. The oil supply from Saudi Arabia will start in January, he added.
While informing about the talks with United Arab Emirates (UAE), he told that the talks are just in last stage.
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