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Collect Taxes From the Rich IMF Said
Collect taxes from the rich and protect the poor, IMF said chief Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, has urged Pakistan to collect more taxes from the rich and protect the poor in the era of rising inflation. It should be noted that annual inflation in Pakistan has reached 27.4% in the month of August, which has severely affected the household budget of the people, besides this month, protests were held across the country due to high electricity bills.
Agreements with the IMF
The beleaguered government initially promised some relief to the people, but later rejected the possibility of relief citing Pakistan’s agreements with the IMF. Speaking to a private news channel after meeting Caretaker Prime Minister Anwarul Haq Kakar on the occasion, Kristalina Georgieva said that she believes it is in line with what the people of Pakistan want to see for the country. He said that what we are saying in our program is to please collect more taxes from the rich and protect the poor people of Pakistan.
Collect Taxes says Head of the IMF
After the meeting, in a statement released on the social media website X (Twitter), the head of the IMF said that he had a meeting with the Pakistani Prime Minister regarding the country’s economic situation. Agreed on the need for strong policies to ensure sustainable and inclusive growth, prioritize tax collection, and ensure the protection of economically vulnerable people in Pakistan.
Constructive Discussions with the IMF director
On the other hand, Caretaker Prime Minister Anwarul Haq Kakar. Also said in a post about the meeting. That he had constructive discussions with the IMF director. In which mutual cooperation to promote economic stability. And development in Pakistan was discuss. Emphasis was place on increasing.
The IMF Executive Board approved
It should note that on July 12. The IMF Executive Board approve a $3 billion bailout program for Pakistan. And an immediate provision of $1.2 billion under it. After a two-quarter review. Other amounts will given later. The IMF approve the loan program. After Saudi Arabia and the United Arab Emirates (UAE) deposit $2 billion and $1 billion. Respectively in the State Bank of Pakistan. After that, the country’s foreign exchange reserves increase.