KARACHI: Finance Minister Ishaq Dar, while giving an interview to DawnNews on Monday, claimed that Pakistan doesn’t need support from International Monetary Fund (IMF) anymore.

“Pakistan will soon stop looking towards IMF for assistance. The last session with IMF is underway right now,” said the finance minister.

We will not go to IMF for assistance, Dar added.

Know more: Pakistani economy gaining strength: IMF

He went on to say that by 2050 Pakistan will become the 18th biggest economic nation across the world.

A senior IMF official had said that Pakistan’s economy was gradually gaining strength and its short-term vulnerabilities were also receding.

No amnesty scheme for property transfer

Clarifying the government’s plan regarding the newly envisioned property tax laws, the finance minister said “we haven’t announced any amnesty scheme regarding the transferring of property”.

The Federal Board of Revenue (FBR) will now determine the prices of property and all transactions will be done through a transparent process, said Dar.

The finance minister had recently announced that in future property valuation tables will be notified by the FBR.

Also read: Capital Gain Tax not applicable on sale of armed forces plots, says Dar

Further explaining the government policy, Dar said that Capital Gain Tax (CGT) collection tables will now be formed by FBR which will then be shared with the provinces.

“We will ask the provinces to implement our policies as they will benefit from them, the provinces will also be able to lower their tax percentage in this way.”

Previously the CGT was being charged as per the property evaluation table notified by the district collectors (DCs). The rates of property in the official evaluation table are usually 40pc-60pc lower than the actual market price.

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Peak of success
06 Oct, 2024

Peak of success

IT started with the ascent of Nanga Parbat in 2017 and ended with the summit of Tibet’s Shishapangma on Thursday....
Indian visitor
06 Oct, 2024

Indian visitor

AMONGST the host of foreign dignitaries expected to fly into Islamabad for the SCO Council of Heads of Government...
Violence once again
Updated 06 Oct, 2024

Violence once again

The warring sides must rein in their worst impulses and prioritise the nation’s well-being over short-term gains.
Controversial timing
Updated 05 Oct, 2024

Controversial timing

While the judgment undoes a past wrong, it risks being perceived as enabling a myopic political agenda.
ML-1’s prospects
05 Oct, 2024

ML-1’s prospects

ONE of the signature projects envisaged under the CPEC umbrella is the Mainline-1 railway scheme, which is yet to ...
No breathing space
05 Oct, 2024

No breathing space

THIS is the time of the year when city dwellers across Punjab start choking on toxic air. Soon the harmful air will...