Obligation adjusting may flood to walloping Rs5.2tr

 


ISLAMABAD:

The International Monetary Fund (IMF) requested Pakistan on Thursday to earn additional revenue by raising the general sales tax rate to at least 18%, as the country's estimated debt servicing costs were projected to rise alarmingly to Rs5.2 trillion in the current fiscal year.

 

The day after the government released its updated macroeconomic estimates, which showed an acceleration of inflation to 29% and a stalling of economic growth to 1.5%, the global lender demanded a hike in the basic GST rate.

 

Increased unemployment and poverty in the nation would result from higher inflation and slower economic growth.

 

The administration disclosed the specifics of the predicted inflows and the $30 billion in external funding obligations one day earlier. However, the IMF did not seem to be optimistic about the nation's

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