What are the IMF’s 11 strict conditions for Pakistan?
The International Monetary Fund has imposed 11 new strict conditions for Pakistan, including continuous increase in energy prices and a huge increase in tax targets.
According to a private TV report, during the next fiscal year, the IMF has estimated that a huge amount of Rs 1727 billion will be collected from the public in the form of petroleum levy.
In addition, the International Monetary Fund has set a tax target of Rs 15,267 billion for the FBR, to achieve which it has proposed to impose additional taxes of Rs 430 billion.
Of these new tax measures, Rs215 billion in taxes will be levied anew while Rs115 billion will be collected through tax enforcement.
According to the report, the International Monetary Fund has also set a condition for ensuring the independence and transparency of NAB, as well as issuing notifications for regular increases in electricity and gas prices in the energy sector.
Other important conditions of the IMF include approval of the federal budget by the parliament, further strengthening the anti-corruption and government procurement framework.
Similarly, orders have been given to improve tax revenue administration, continue the sponsorship program, prepare a roadmap for currency exchange autonomy and increase regulatory transparency.
Under the above conditions, amendments to the PEPARA rules, elimination of all incentives given to special economic zones by 2035 and establishment of the Pakistan Regulatory Registry for business regulation at the federal level have also been made mandatory.
Economic experts say that these steps by the IMF are considered necessary to restore economic stability and achieve the goals required under the ongoing program.
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