Newsnomics AJAY ANGELINA reporter |
International Monetary Fund (IMF) offer suggestion to Pakistan to tax the rich & wealthy and protect the
rights of the poor by giving them relief to stabilize their lives in the society on Wednesday.
“Of course, it is difficult but Pakistan has to do it in line with the IMF as we stand by the people of Pakistan.”
said Kristalina Georgieva, the managing director of IMF.
“It is in the interest of the people of Pakistan that the country revitalizes its economy and addresses some of
the “shortcomings” of the past, in reference to reforms the lender is asking the country to execute.” said
Kristalina reported by the Geo News Pakistan.
“I do believe that it is in line with what people in Pakistan would like to see for the country.” she added.
Earlier, Pakistan’s caretaker PM Anwaar- ul-Haq Kakar had constructive dialogue with the chief of IMF and
emphasized on extending the mutual commitment towards bolstering economic stability and growth of
Pakistan by presenting various governmental measures at the occasion of the 78th United Nation General
Assembly (UNGA) session held in New York.
PM Kakar assured that the government initiatives aim to create a stable and conducive environment for
sustainable economic growth and investment. Additionally, a strong focus had been placed on protecting the vulnerable segments of society.
In response, IMF MD Kristalina Georgieva appreciated Pakistan’s concerted efforts in implementing policies
and reforms to revive the economy.
Pakistan has signed a $3 billion bailout package with the IMF in July, counted more than 20 loans from the
international lender since 1958. By signing the agreement, the government of Pakistan agreed to restructure
the bleeding energy sector, introduce reforms in state-owned enterprises, and increase tax collection in the
country. However, the measures taken by the government have made nations life difficult for the masses as
a massive hike in electricity and petrol prices has pushed inflation to a record level.
But the IMF has rejected the proposals offered by the caretaker government to provide relief amid sky
rocketing food and energy prices.
