KARACHI: The International Monetary Fund (IMF) just granted a $3 billion loan for Pakistan; however, the rescue tranche comes with requirements for a second review.
According to the journal, the Washington-based lender has now requested the government for a plan to impose taxes on the real estate and agricultural sectors.
According to sources, the IMF has stated that the property and agriculture industries should be taxed in order to enhance the country’s revenue collection.
According to the sources, the IMF believes Pakistan has the ability to increase revenue from both of these sectors.
Furthermore, the sources stated that the World Bank would provide support in levying taxes on the two sectors.
It is worth noting that Pakistan recently got the first tranche of $1.2 billion from the IMF.
According to IMF officials, Pakistan would be required to implement the agreement’s conditions for economic stability.
Prime Minister Shehbaz Sharif has also promised IMF Managing Director Christine Lagarde that the accord would be followed in letter and spirit.
