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| IMF seeks more details on government's request for new tax/File photo |
Islamabad: The federal government has expressed its intention to introduce a new tax for another project on the N-25 highway.
According to sources, the federal government wants to build a medical complex in Islamabad and is considering introducing a municipal tax for it.
Sources say the federal government has sought permission from the IMF to introduce a new tax in Islamabad and the IMF has sought more details about the government's request for the new tax.
Sources said that the medical complex to be built in Islamabad will cost Rs 213 billion and the construction of the medical complex will be completed by collecting municipal taxes.
According to sources, the government is facing financial difficulties to complete the project within 3 years and the government is also considering immediate release of Rs 30 billion from the emergency fund for the project.
The Finance Ministry wants to make the Medical Complex project part of the PSDP, while the government is also considering investing the potential proceeds of $76 million in Panda bonds in the project.
Sources further said that the government has initially provided Rs 3.5 billion for the project, which will be spent on setting up the Jinnah Medical Complex company and recruiting staff.
Federal Minister Ahsan Iqbal, in his statement in this regard, said that he would propose funding for the project from outside the PSDP.
It should be noted that it was earlier announced that the money saved due to the fall in oil prices in the global market would be spent on the construction and improvement of the National Highway N-25 connecting Quetta to Karachi.
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