Pakistan, June 18 -- Prime Minister Shehbaz Sharif announced on Wednesday that the International Monetary Fund (IMF) agreed not to tax Pakistan's agriculture sector. He shared that the government successfully convinced the IMF despite its repeated demands. During a federal cabinet meeting, he said agriculture is already under pressure and taxing it would have added more burden. The exemption will cover items like fertilisers and pesticides, offering relief to farmers.

The prime minister also revealed a change in the income tax rate for salaried individuals earning between Rs 600,000 and Rs 1.2 million. He said this group would now pay only 1% income tax annually, down from the previously announced 5% in the FY25 budget. However, Finance ...