Live Breaking News & Updates on Resumption Of Extended Fund Facility

No More Tax Amnesties, Government Commits to IMF
No More Tax Amnesties, Government Commits to IMF
Resumption of Extended Fund Facility accompanies undertaking for massive increase to taxes, utility prices
Pakistan has committed to not provide any new tax exemption or amnesty as part of terms agreed upon with the International Monetary Fund (IMF) to resume the Extended Fund Facility (EFF) that was stalled last year.
A Staff Report made public by the IMF on the second, third, fourth, and fifth reviews of the EFF that concluded last month reveals that the government has set ambitious targets for revenue generation, including by imposing the maximum possible levy on petroleum products (Rs. 30/liter) through the next year. According to the IMF, this would generate Rs. 510 billion in revenues against a budgeted target of Rs. 450 billion. For the next fiscal, this target has been raised to Rs. 607 billion. ....

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