Agreement with IMF expected in 'one or two' days, finance minister hopes

Islamabad: Finance Minister Miftah Ismail on Monday expessed hope that the government is expected to strike an agreement with the International Monetary Fund (IMF) in a day or two to revive the $6 billion Extended Fund Facility (EFF) programme.

He was speaking to reporters after attending a meeting of the Senate Standing Committee on Finance.  

The minister told reporters that the IFI had nothing to do with the government's announcement of increase in 15 per cent salaries of the government employees, and tax exemption for those earning less than Rs1.2 million annually. 

When asked whether prime minister Shehbaz Sharif was working on imposing taxes or giving relief to the masses, Ismail said it depended on the kind of people they were.

"If they are well-to-do, then taxes will be applicable but the poor will be provided relief."