Fastest News Updates around the World

IMF Urges Pakistan to Raise Taxes on the Rich and Protect the Poor Amid Rising Inflation

74

- Advertisement -

IMF Calls for Tax Increase on Wealthy and Protection for the Poor in Pakistan

- Advertisement -

Introduction

The International Monetary Fund (IMF) director, Kristalina Georgieva, has urged Pakistani authorities to implement policies that include raising taxes on the wealthy and safeguarding the interests of the poor population amidst growing inflation.

IMF’s Agenda for Pakistan

Georgieva emphasized the need for Pakistan to adopt an agenda that focuses on levying higher taxes on the affluent sections of society, while simultaneously ensuring the protection of the less privileged, during her remarks at the United Nations General Assembly.

IMF’s Support for Pakistan

The Prime Minister’s Office of Pakistan expressed gratitude to the IMF for approving a $3 billion agreement to provide economic support to the country. The caretaker Prime Minister, Anwarul Haq Kakar, also briefed Georgieva on the measures taken by the Pakistan government to stabilize and revitalize the economy.

IMF Aid Program for Pakistan

On July 12, the IMF’s Executive Board approved a $3 billion aid program for Pakistan, with immediate disbursement of approximately $1.2 billion. This program aims to alleviate the financial crisis faced by Pakistan.

Inflation and Government Assistance

In August, Pakistan witnessed a significant rise in annual inflation, reaching 27.4%. Initially, the government promised assistance to the affected population, but later retracted the offer, citing its obligations to the IMF.

Source

News

Leave a Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More