Pakistan’s finance minister, Ishaq Dar, has announced that the government will not impose any new taxes on the agricultural and real estate sectors. This decision comes after the successful revival of an International Monetary Fund (IMF) bailout program, which provided much-needed economic relief to the country.
The IMF deal required Pakistan to impose additional taxes, remove subsidies, and secure financial assurances from friendly nations. However, Minister Dar has assured the public that the government will not impose any new taxes on the agriculture and real estate sectors.
Minister Dar made the announcement in a speech to the lower house of parliament. He said that the government had no intention of implementing any new taxes on these sectors, and that all the relevant documents pertaining to the IMF deal would be uploaded to the finance ministry’s website.
The announcement was welcomed by businesses and farmers, who had been concerned about the potential impact of new taxes on their sectors. The government’s commitment to transparency and economic stability has also been praised by economists.
The IMF bailout program is a positive step towards addressing Pakistan’s economic problems. However, the government will need to take further steps to reduce inflation and improve the country’s balance of payments.
The decision not to impose new taxes on the agriculture and real estate sectors is a positive step towards alleviating financial burdens on citizens. It is also a sign that the government is committed to transparency and economic stability.
Highlights :
- The IMF bailout program is a three-year agreement, worth $3 billion.
- The IMF has set several conditions for the bailout program, including reducing the budget deficit, increasing tax revenue, and reducing energy subsidies.
- The government has already taken some steps to meet these conditions, such as increasing the prices of fuel and electricity.
- The government is still facing challenges, such as high inflation and a widening trade deficit.
- However, the IMF bailout program provides a much-needed lifeline to the Pakistani economy.
- Low productivity
- Lack of access to credit
- Poor infrastructure
- Inefficient markets
