Pakistan to Force New Charges however Not Through Law as A feature of IMF Arrangement; Virtual Meet Today.

 

Pakistan to Force New Charges however Not Through Law as A feature of IMF Arrangement; Virtual Meet Today

The Pakistani government is struggling to address an economic crisis and is facing a shortfall of $10-12 billion in funds. To bridge this gap, the government has announced plans to impose new taxes amounting to Rs 170 billion as part of a deal with IMF for a USD 7 billion loan programme.

 [1]The government is planning to hold a virtual meeting today to discuss the situation and is considering increasing the tax rates on cigarettes, beverages, real estate transactions, and expensive vehicles.

 [2] An International Monetary Fund (IMF) team led by Ernesto Ramirez Rigo has reached an agreement on a package of measures to complete second to fifth reviews of the authorities' reform program supported by the IMF Extended Fund Facility.

 [3]The package is aimed at supporting the economy, ensuring debt sustainability, and advancing structural reform. The authorities remain committed to ambitious policy actions and structural reforms to strengthen economic resilience, advance sustainable growth, and achieve the EFF's medium-term objectives.



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