Monetary disaster worsens as govt directs AGPR to ‘cease’ salaries

Finance Minister Ishaq Dar speaks during a press conference in Islamabad. — AFP/File
Finance Minister Ishaq Dar speaks throughout a press convention in Islamabad. — AFP/File 
  • Ministry additionally directed to cease clearings of hooked up departments till additional discover.
  • Ishaq Dar mentioned: “It could be unfaithful.”
  • Salaries, pensions of defence-related establishments cleared for subsequent month, sources mentioned.

ISLAMABAD: As a result of present financial crunch and the nation’s deteriorating monetary situation, the ministry of Finance and Revenue instructed Accountant Common Pakistan Revenues (AGPR) to stop the clearing of payments, together with salaries, The Information reported on Saturday. 

The ministry additionally directed to halt the clearings of hooked up departments till additional discover.

Official sources confirmed to The Information on Friday evening that the operational cost-related releases confronted difficulties mainly as a result of economic hardships of the nation.

Contacting Finance Division officers for a remark, the reporter was unable to obtain any response. Nevertheless, Minister for Finance Ishaq Dar was contacted for a remark. The minister mentioned it could be unfaithful however promised to get again after confirming it. Nevertheless, this correspondent didn’t get any reply until the submitting of this report by 1am on Saturday.

Sources mentioned that they went to the AGPR workplace for clearance of their excellent payments however have been knowledgeable that the Ministry of Finance had directed them to cease clearing all of the payments, together with the salaries, due to the prevailing troublesome monetary positions. 

The precise causes couldn’t be ascertained why the clearance of payments was stopped on a direct foundation.

The lingering monetary difficulties may very well be cited as a significant cause behind this transfer. The sources mentioned the salaries and pensions of defence-related establishments had already been cleared for subsequent month.

Ishaq Dar whereas assembly on February 22 with a delegation of M/s Rothschild & Co had mentioned “the federal government was steering the economic system in the direction of stability and progress including that “the federal government is dedicated to finishing the Worldwide Financial Fund (IMF) programme and fulfilling all worldwide obligations.”

Dar’s dedication to unlocking the IMF tranche could be seen on February 20 when the Nationwide Meeting had unanimously accredited the Finance (Supplementary) Invoice 2023 or ‘mini-budget’ — a transfer obligatory for in search of the $1.1 billion tranche of the IMF.

The invoice will increase gross sales tax from 17 to 25% on imports starting from vehicles and family home equipment to candies and cosmetics. A basic gross sales tax was raised from 17% to 18%.

“The prime minister may even unveil austerity measures within the subsequent few days,” the minister instructed the decrease home of parliament because the invoice was handed, including “we should take troublesome choices”.

‘Fully false’

The Ministry of Finance, in a clarification launched on this regard, talked about that there are rumours floating round that the federal government has instructed to cease cost of pay, pension, and so on.

“That is fully false as no such directions have been given by Finance Division, which is the involved federal ministry,” the assertion learn.

The ministry additional talked about that the AGPR has confirmed that pay and pension have already been processed and might be paid on time. In the meantime, different funds are being processed as per routine.

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