IMF advises Pakistan: Tax the rich, help the poor people 


In light of Pakistan's challenging condition, the International Monetary Fund (IMF) has decided to assist the needy people of Pakistan. IMF claims that Pakistan was seriously affected by the crisis. Pakistan should take a number of steps to ensure that they give poor people compensation and tax the wealthy.

IMF Director Kristalina Georgieva urged Pakistan to take decisive action against the grave economic crisis there during the most recent meeting. mostly due to Pakistan's poor economic position. Gasoline costs are rising daily, contributing to Pakistan's growing poverty and unrest. During this time, the impoverished cannot afford three meals a day of food.

According to Kristalina Georgieva, the IMF was very clear that it wished to protect Pakistan's underprivileged citizens.


Moreover, Pakistani news sources said that:

The poor should be the ones who gain from subsidies, not the wealthy, it shouldn't be the other way around.

The IMF has previously provided financial help to Pakistan, which is currently in talks with the organization to continue its loan program as it fights a terrible economic crisis and is in desperate need of money.

Days after the two parties ended their ninth discussion of the USD 6.5 billion bailout package without reaching a staff-level understanding, the IMF chief made his comments. Nonetheless, all parties decided on a number of measures that might yet be used to seal the deal.

Around USD 1.1 billion would be made available if the ninth review of the program could be agreed upon. Resuming the IMF program will also open up new finance options for Pakistan.

Both parties have agreed to continue talking, and the IMF had stated that "virtual negotiations will continue in the coming days to finalize the implementation specifics" of the policies, including the tax measures, negotiated in Islamabad.

To put the tax reforms into effect and come to an agreement with the IMF, the government is working against the deadline. Pakistan has until March 1 to follow all of the IMF's recommendations.


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