Islamabad: International Monetary Fund (IMF)’s Resident Representative Teresa Dabán Sanchez has voiced the fund’s support for the government’s recently announced construction sector package — with the initiative broadly aimed at benefiting the country’s daily wagers, according to news sources. In addition, the IMF representative also advised the executive to impose appropriate taxation on the petroleum, beverages, vehicles, and tobacco sectors.
She
stated that Pakistan could use taxation as a way forward, and that this sometimes
required increasing the country’s tax base and tax rates. Representative Sanchez made these comments while speaking at an online policy dialogue,
held under the auspices of the Sustainable
Development Policy Institute (SDPI).
During her talk, she said that the monetary performance of Pakistan had been satisfactory and that the IMF would continue to work with the authorities to work out a feasible roadmap for the country; which would then be made a part of the budget next year.
The representative further revealed
that the IMF toolkit to battle the impact of the coronavirus pandemic included USD
1.4 billion funds for Pakistan, under its Rapid Finance Instrument (RFI). She
also said that the ongoing Existing Fund Facility (EFF) was still
functional and that its next review meeting might be a virtual one. Moreover,
she lauded the government’s various initiatives in response to the COVID-19
pandemic.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
