Govt Seeks Tax Relief for Real Estate, Salaried Class as Talks Continue with IMF

The federal government has asked the International Monetary Fund (IMF) to allow a reduction in the super tax and give relief to the real estate and construction sectors during ongoing talks regarding the upcoming budget. Sources told ProPakistani that so far, the IMF has not agreed or refused any of these requests. The government is pushing to lower the rate of super tax, and is seeking tax relief for real estate, property, and construction sectors. However, for now, no agreement has been reached yet between the government and the IMF on any relief measures. Sources say Pakistan is bound to follow the IMF agreement, and any decisions will be made with mutual understanding. Pakistan has asked for tax breaks to help economic recovery, but the IMF wants detailed data and a clear plan before deciding. The economic team is currently providing the requested data to the IMF. So far, no new conditions have been set by the IMF, according to sources. The IMF has asked provinces to reduce spending and increase revenue. It has also asked for measures to collect tax on agricultural income.