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.

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

Opinion

Editorial

Road to perdition
Updated 01 Feb, 2023

Road to perdition

This is also the time of reckoning for those who sowed the seeds of a disastrous policy against militants.
Transport tragedies
01 Feb, 2023

Transport tragedies

TWO tragedies over the weekend illustrate the weak protocols governing the safety of transport in Pakistan. In fact,...
Disqualifying Jam Awais
01 Feb, 2023

Disqualifying Jam Awais

IT appears that there may be some kind of small punishment after all for PPP lawmaker Jam Awais, who was pardoned ...
Police Lines bombing
Updated 31 Jan, 2023

Police Lines bombing

Where the menace of terrorism is concerned, the government and opposition need to close ranks and put up a united front.
Oil price hike
31 Jan, 2023

Oil price hike

THE record single-day increase in petrol prices, preceded by massive currency depreciation, signifies the ...
Babar Azam’s award
31 Jan, 2023

Babar Azam’s award

BABAR Azam might not have lifted many trophies as Pakistan’s all-format captain in the last year but the star...