Pakistan hands over MEFP draft to IMF after settling basic issues

ISLAMABAD (92 News) - The government on Tuesday settled basic matters with the International Monetary Fund (IMF).

Pakistan has handed over the draft of the Memorandum of Economic and Fiscal Policies (MEFP) to the IMF.

According to the draft, hefty increase in the rates of taxes will not be increased. The 18-21 percent tax rate will be imposed on minimum departments. A concession will be given in the return of the schedule for return of loans.

Stringent steps will be taken to control 'Hundi' and smuggling. The IMF will resume the talks after reviewing the draft.