IMF Calls for Fairer Taxation System in Pakistan
The International Monetary Fund (IMF) has emphasized the need for a fairer taxation system in Pakistan, involving all sectors in the process. The IMF’s Executive Board has approved a 37-month Extended Fund Facility (EFF) for Pakistan, with a $1 billion tranche already disbursed out of the $7 billion bailout package.
The government has agreed to implement unpopular reforms, including expanding the tax base to generate additional revenue. The IMF has also called for strict implementation of anti-money laundering measures, tackling corruption, and reforms in the energy sector.
The IMF highlighted the importance of better governance and equal opportunities for businesses to enhance productivity in all sectors. The IMF board noted that despite some progress, Pakistan still faces significant vulnerabilities and structural challenges that need to be addressed to ensure sustainable growth.
The new program aims to strengthen macroeconomic stability, address structural challenges, and promote inclusive and resilient growth. It also emphasizes the need for increased investment in health, education, and infrastructure to reduce poverty and support development.