{"id":83758,"date":"2022-02-09T12:48:31","date_gmt":"2022-02-09T07:48:31","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=83758"},"modified":"2022-02-09T12:49:03","modified_gmt":"2022-02-09T07:49:03","slug":"wb-pakistan-prior-actions-rise-ii","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/wb-pakistan-prior-actions-rise-ii.html","title":{"rendered":"WB asks Pakistan to implement \u2018prior actions\u2019 for RISE-II"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Islamabad: The World Bank (WB) has sought Pakistan to implement at least four crucial \u2018prior actions\u2019 for the second phase of the multimillion-dollar Resilient Institutions Strengthening Programme (RISE-II) as agreed in 2019, news sources reported. Under the programme, Pakistan needs to take four crucial fiscal policy-related steps and structural reforms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/imf-release-usd-1-bn-6th-review.html\" target=\"_blank\" rel=\"noreferrer noopener\">IMF to release USD 1 bn after successful 6th review<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><br>In a meeting with the Finance Minister Shaukat Tarin and World Bank\u2019s Country Director Najy Benhassine, both sides agreed to implement the following four steps:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.zameen.com\/news\/fbr-reward-pos-integrated-tier-1-retail-shoppers.html\" data-type=\"post\" data-id=\"82224\" target=\"_blank\" rel=\"noreferrer noopener\">Harmonisation of General Sales Tax (GST)<\/a> among the federal and provincial governments<\/li><li>Control rising debt burden through amendments to the Fiscal Responsibility &amp; Debt Limitation Act 2005<\/li><li>Bring uniformity in provincial property valuations for tax purposes<\/li><li>Complete clearance of GST refunds.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"> <strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/cdwp-clears-3-projects-world-bank-loans.html\" target=\"_blank\" rel=\"noreferrer noopener\">CDWP clears 3 projects for World Bank loans<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It was reported that under the renewed <a rel=\"noreferrer noopener\" href=\"https:\/\/www.zameen.com\/news\/reviewed-eff-imf-board.html\" data-type=\"post\" data-id=\"82565\" target=\"_blank\">International Monetary Fund (IMF) loan talks<\/a>, Pakistan has already committed to implementing a single digital GST portal for tax harmonisation among provinces. Moreover, the government has also presented the Fiscal Responsibility and Debt Limitation Act of 2005 before National Assembly (NA) Standing committee of finance. The bill seeks to limit the stock of government guarantees to 10% of GDP and the upper debt limit to 70% of the GDP.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, the amendment will achieve four significant goals including:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Limit the stock of government guarantees at 10% of GDP<\/li><li>Publish a Medium-Term National Macro-Fiscal Framework (MTMFF)<\/li><li>Put debt management functions under the purview of a single office reporting to the finance secretary rather than the finance minister.<\/li><li>Increase the number of directors in the Debt Policy Coordination Office (DPCO) from three to four, and rename it the Debt Management Office (DMO)<\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The World Bank (WB) has sought Pakistan to implement at least four crucial \u2018prior actions\u2019 for the second phase of the multimillion-dollar Resilient Institutions Strengthening Programme (RISE-II) as agreed in 2019, news sources reported. Under the programme, Pakistan needs to take four crucial fiscal policy-related steps and structural reforms. Read: IMF to release USD 1 bn after successful 6th review In a meeting with the Finance Minister Shaukat Tarin and World Bank\u2019s Country Director Najy Benhassine, both sides agreed to implement the following four steps: Harmonisation of General Sales Tax (GST) among the federal and provincial governments Control rising debt burden through amendments to the Fiscal Responsibility &amp; Debt Limitation Act 2005 Bring uniformity in provincial property valuations for tax purposes Complete clearance of GST refunds. Read: CDWP clears 3 projects for World Bank loans It was reported that under the renewed International Monetary Fund (IMF) loan talks, Pakistan has already committed to implementing a single digital GST portal for tax harmonisation among provinces. Moreover, the government has also presented the Fiscal Responsibility and Debt Limitation Act of 2005 before National Assembly (NA) Standing committee of finance. The bill seeks to limit the stock of government guarantees to 10%&hellip;<\/p>\n","protected":false},"author":84,"featured_media":61439,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15015],"tags":[30994,51060,51059,50447,51058],"persona":[],"class_list":["post-83758","post","type-post","status-publish","format-standard","has-post-thumbnail","category-legal-taxation","tag-budget-2020-21-punjab-to-relax-gst-on-services","tag-gst-portal","tag-gst-single-porta","tag-loan-markup-subsidy","tag-wb-asks-pakistan-to-implement-prior-actions-for-rise-ii","cat-15015-id"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>WB asks Pakistan to implement \u2018prior actions\u2019 for RISE-II - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The World Bank (WB) has sought Pakistan to implement at least four crucial \u2018prior actions\u2019 for the second phase of the multimillion-dollar\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/wb-pakistan-prior-actions-rise-ii.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"WB asks Pakistan to implement \u2018prior actions\u2019 for RISE-II - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The World Bank (WB) has sought Pakistan to implement at least four crucial \u2018prior actions\u2019 for the second phase of the multimillion-dollar\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/wb-pakistan-prior-actions-rise-ii.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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