Tuesday, February 21, 2023

IMF to Pakistan: Act like a country, make the rich pay taxes and the poor receive subsidies

IMF to Pakistan: Function like a country, make the rich pay taxes & poor get subsidies

 ISLAMABAD:: In light of looming concerns regarding a default, the International Monetary Fund (IMF) has stated that cash-strapped Pakistan must take steps to ensure that only the poor receive subsidies and that only high earners pay taxes.

IMF chief Kristalina Georgieva stated in an interview with Deutsche Welle on Friday that Pakistan must take strong measures to avoid entering a "dangerous place" where its debt must be restructured. Dawn reported that she stated, "It shouldn't be that the wealthy benefit from subsidies," and that the IMF had made it abundantly clear that it wanted to safeguard Pakistan's poor. The poor ought to reap the benefits of them."

"What we are asking for are the actions that Pakistan needs to take so that it can continue to function as a nation and avoid entering a dangerous situation in which its debt needs to be restructured... We are focusing on two things." Priority one: Revenue from taxes. She stated, "Those making good money need to help the economy."

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