IMF Asks Pakistan to Increase the Prices of Gas and Electricity.
Islamabad: IMF Asks Pakistan to Increase the Prices of Gas and Electricity. The International Monitory Fund (IMF) pushes Pakistan to decrease its circular debt by hiking the prices.
According to news reports, the IMF wants Pakistan to increase the prices in order to meet the tax collection targets for the current fiscal year.
With the economy already in a turmoil, the price hike will be like dropping another bomb on the citizens. People are already suffering in the hands of pandemic and price hikes aren’t going to help either.
This year’s monsoon brought a lot of problems with it, Government faced collective losses of Rs 17 Billion in revenue.
Prime Minister Imran Khan has already rejected a summary to hike the petroleum product prices for the current month. PM wanted to give some relief to already suffering people. But now IMF Asks Pakistan to Increase the Prices of Gas and Electricity.
IMF is also pressurizing Pakistan to introduce TAX reforms in the country as Pakistan’s Tax collection ratio is very low. Pakistan is asked by IMF to collect RS 1000 billion in taxes for current fiscal year.