Karachi: The International Monetary Fund (IMF) has asked Pakistan to subsidise the low-earners and tax the high-earners so that the country’s economy could regain proper functionality, according to news published in the leading newspaper on February 20.
IMF Managing Director Kristalina Georgieva highlighted that the foundation wants to protect the underprivileged people of Pakistan. She stated that the organisation has emphasised two things; tax revenues and fair distribution of subsidies. She mentioned that those who are earning well, whether in the public or private sector, must contribute to assist the economy. The managing director further added that the pressure should be fairly distributed by offering subsidies to those who really deserve it and the wealthy should not benefit from subsidies.
The delegation of IMF has departed from the country after 10 days of talks after no deal was reached. The news source mentioned that both sides will stay engaged in virtual discussions to finalise the implementation details of the policies including tax measures to resume the financial assistance.
The IMF has given the deadline of March 1 to implement all these measures. It is important to note that Finance Minister Ishaq Dar tabled the Finance Supplementary Bill 2023. The said bill outlines that an additional PKR 170 billion should be raised in the next four and a half months. It was shared that the bulk of tax measures, worth PKR 115 billion has already been implemented from February 14 via statutory regulatory orders.
Iqra holds BS in International Relations and is passionate about writing engaging content on trending real estate topics. When not working, she is either spending time with family, shopping, or discussing shows & movies.
