Pakistan Needs IMF Package: Pakistan is currently facing the biggest economic crisis. To deal with this, it is in dire need of a bailout package from the International Monetary Fund (IMF), but it is not yet available. Recently the IMF team was on a visit to Pakistan, but returned without saying anything. Now there is news that preparations have been made to suck the blood of the people who are already facing financial crisis. Pakistan is going to increase tax soon.
Pakistan’s Finance Minister Ishaq Dar indicated to increase tax on Friday (10 February). Ishaq Dar Imran Khan Accusing the country of pushing it into economic ruin, he said that it is necessary to fix these things. These reforms are painful, but necessary.
new tax preparation
Pakistani Finance Minister was talking to the media about the agreements with the IMF. During this, he told that the government is preparing to impose new tax of 170 billion rupees.
The IMF team was on a 10-day visit to Pakistan from January 31 to February 9. The team had come to review the $7 billion loan program to the Government of Pakistan. She had to agree on the settlement here, but here she handed over the memorandum of terms and conditions to Pakistan and returned without saying anything.
Pakistani Finance Minister gave clarification
There is confusion in Pakistan as the delegation returned without giving any statement. To clear this up, the Finance Minister came out on Friday and insisted that there was no confusion. He told that we insisted the IMF delegation to send us the draft Memorandum for Financial and Economic Policies (MEFP) so that we can see it. Dar said that he had received the draft from the IMF on Friday morning. Dar told that there will be a virtual meeting with IMF officials on Monday.
double whammy
During this, Dar said that there has been an agreement between the government and the IMF to impose a new tax, under which a tax of Rs 170 billion will be levied. However, he said that the government will try to ensure that the direct burden of taxes does not fall on the common man. The Pakistani Finance Minister said that the government will bring a Finance Bill or an ordinance to impose the tax. That is, it is certain that the people of Pakistan, who are already struggling with inflation, are going to get a double whammy.
Pakistan in trouble
Pakistan’s foreign exchange reserves are falling. The government does not have the money to buy petrol, due to which there has been a shortage of petrol in the country. People are wandering for petrol. The situation has become worse in Punjab. In the biggest city of Lahore, out of 450 petrol pumps, 70 do not have oil at all. At the same time, traders have started protesting against inflation in Karachi, the capital of Sindh province.
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