No ‘disagreement,’ IMF ready to work with Pakistan’s restructuring roadmap – finance minister 

Pakistan's Finance Minister Shaukat Tarin gestures during a pre-budget press conference in Islamabad on June 10, 2021. (AFP)
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Updated 15 June 2021
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No ‘disagreement,’ IMF ready to work with Pakistan’s restructuring roadmap – finance minister 

  • Says Pakistan hopes to convince IMF of government plan to reform power sector and broaden tax net 
  • IMF to monitors “steps, innovations” introduced by Pakistan for 2-3 months and reassess, Tarin says 

ISLAMABAD: Just days after Pakistan presented its federal budget for the next fiscal year, Finance Minister Shaukat Tarin denied there was any “disagreement” with the International Monetary Fund (IMF) on restructuring targets and austerity measures, adding that a $6 billion loan program from the fund would continue. 

Train on Friday presented what has been called a “pro-growth” and “people-friendly” fiscal budget for 2021-22, with a total outlay of Rs8.4 trillion.

Pakistan is currently in talks with the IMF as part of the sixth review of a 39-month bailout program, which began in 2019. The revenue target has been a key topic and Tarin has said the IMF and the government debated ways to achieve the target, which is 23 percent higher than the current year’s expected collection.

The budget document said one of the main objectives was to pursue the IMF program, even as Pakistan has said it is looking for the easing of some restructuring targets.

“We don’t have a disagreement with the IMF, we want to remain in the IMF program and our destiny is the same,” Tarin said in an interview with a private Pakistani news channel on Monday night. 

The finance minister said the IMF wanted Pakistan to reform its power sector, increase revenue base, eliminate all exemption and increase taxes on personal incomes by Rs150 billion.

“We disagree on this and told them we will broaden [tax base], will use technology and include more taxpayers [in the tax net],” Train said, adding that Pakistan had informed the IMF that it wanted “systematic and sustainable growth” by introducing innovation and technology. 

“[IMF] said they will continue to talk on this with [Pakistan], and the steps, innovations that you [Pakistan] are introducing will be monitored for next two, three months and [IMF will] take it from there,” the finance minister said, adding: “I assure you that it is our aim and the IMF also desires that we will not come out from [the IMF] program. We will come up with some understanding.”

Train said he hoped Pakistan would be able to convince the IMF of the government’s roadmap to reform the power sector and broaden the tax net.
 


Pakistan expresses solidarity with Australia as gunmen kill at least 12 in Bondi Beach shooting

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Pakistan expresses solidarity with Australia as gunmen kill at least 12 in Bondi Beach shooting

  • Gunmen targeted people gathered at Sydney’s famous Bondi Beach to celebrate Jewish Hannukah festival
  • Pakistan, itself a victim of “terrorism,” condemns violence against innocent civilians, says President Zardari

ISLAMABAD: Pakistan’s President Asif Ali Zardari expressed solidarity with Australia on Sunday as gunmen killed at least 12 people and wounded a dozen others in the Bondi Beach shooting that targeted the Jewish community in the country. 

New South Wales (NSW) police said two people had been taken into custody, and the Australian Broadcasting Corp. said one of at least two gunmen was among those killed. Around a dozen people were taken to local hospitals after the shooting, an NSW ambulance spokesperson said.

The attackers targeted a large group gathered at the northern end of Sydney’s Bondi Beach, near or at Bondi Park playground, as per news reports, when the attack happened. Gunmen attacked people who were there to celebrate an event related to the Jewish festival of Hannukah. 

“President Asif Ali Zardari has expressed sorrow over the tragic shooting in Sydney, conveyed condolences to the victims’ families & wished the injured a speedy recovery,” the president of Pakistan’s official account on X wrote. 

“Pakistan itself a victim of terrorism, stands in solidarity with & condemns violence against innocent civilians.”

Prime Minister Shehbaz Sharif also condemned the Sydney attack, expressing condolences with victims of the incident. 

“Pakistan condemns terrorism in all its forms and manifestations,” he wrote on X. 

As per international media reports, one of the gunmen has been identified as Naveed Akram from Bonnyrigg in Sydney’s southwest. His country of origin remains unclear. 

One of the world’s most famous beaches, Bondi is typically crowded with locals and tourists, especially on warm weekend evenings.

Videos circulating on X appeared to show people on the beach and nearby park scattering as multiple gunshots and police sirens could be heard. One video showed a man dressed in a black shirt firing a large weapon before being tackled by a man in a white T-shirt who wrestled his weapon off him. A different man was seen firing a weapon from a pedestrian bridge.

Another video showed two men pressed onto the ground by uniformed police on a small pedestrian bridge. Officers could be seen trying to resuscitate one of the men. Reuters could not immediately verify the footage.

The attack came almost exactly 11 years after a lone gunman took 18 people hostage at the Lindt Cafe in Sydney. Two hostages and the gunman were killed after a 16-hour standoff.