Pakistan Economic Crisis: Pakistan did not get relief from IMF, 170 billion tax bomb will explode on public

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Pakistan Economic Crisis: Pakistan, which is facing economic crisis, is currently not getting loan from the International Monetary Fund (IMF). In such a situation, the government of Shahbaz Sharif has made preparations to impose heavy taxes on the people of Pakistan. In fact, the meeting for the bailout package on Thursday ended without reaching any conclusion. After this meeting, a statement has also been issued by the IMF.

Announcement of tax of 170 billion dollars

Amidst the news that Pakistan is not getting any loan from the IMF at present, the country’s Finance Minister Ishaq Dar has said that the talks with the organization have ended on a positive note. Ishaq Dar said that the Government of Pakistan has received a memorandum on terms and conditions from the IMF to complete the $7 billion loan programme. This statement of Dar has come after the departure of the IMF delegation from Pakistan on Thursday night after ten days of talks. Ishaq Dar said that the virtual discussion will continue on the 9th review of the programme. Along with this, Pakistan’s Finance Minister Ishaq Dar announced that taxes worth $170 billion will also be imposed by the government. These new taxes will be introduced through mini budget. Its purpose is to revive the bailout package.

Will the burden fall directly on the common man? Learn what the Finance Minister said…

However, Pakistan’s Finance Minister said that the government will try to ensure that the direct burden of taxes does not fall on the common man. To levy the tax, the government will bring a Finance Bill or an Ordinance, depending on the situation at that time. Let us tell that Pakistan’s foreign exchange reserves have remained less than $ 3 billion. In such a situation, at this time, Pakistan is in great need of financial help and relief package from IMF to avoid economic collapse. There was also news of no agreement at the staff level for the relief package between Pakistan and the IMF. However, Dar told the press conference on Friday that we insisted that the fund delegation give us the MEFP before leaving, so that we can see it over the weekend. He said that the government and IMF officials will hold a virtual meeting in this regard on Monday.

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