IMF urges government to impose more tax

[ejaz007]

IMF urges government to impose more tax
Web Desk

FEBRUARY 6, 2020

The International Monetary Fund (IMF) has stated that the government must reinstate some abolished taxes and expand some existing ones in order to meet its short term revenue projections.

Pakistan and International Monetary Fund (IMF) delegation continued their discussions on Wednesday to develop a revised budget estimate on the exact extent of the budgetary adjustments necessary to meet the commitments.

In May, the IMF agreed to a $6 billion bailout package for Islamabad after the government unveiled an austerity budget and introduced painful reforms to secure funding and address economic crisis.

The bailout allows for an immediate disbursement of $1bn and will unlock about $38bn in investment from Pakistan’s international partners.

According to the sources, the net impact of the additional budget measures of Rs735 billion was only Rs235 billion or 31% in the first half (July-December) of this fiscal year. The drop in collections is due to sluggish economic growth and weak enforcement by the Federal Board of Revenue (FBR). This raises questions as to whether the FBR can actually execute the new mini-budget under consideration of almost 200 billion rupees during the remaining four months of the fiscal year.

Pakistan hopes the IMF programme will help rebalance its economy and strengthen its balance of payments position.

Pakistan is also seeking foreign direct investment as part of the China-Pakistan Economic Corridor projects and loan packages from other international partners to further augment its economy.

https://dailytimes.com.pk/553377/imf-urges-government-to-impose-more-tax/

 

[A.A. Khan]

Early Elections look closer than ever. Inflation has sky rocketed. Idiot Khan has ruined the economy. His decision to take IMF money was seen as his biggest mistake and it will definitely bury his political legacy for good.

Food prices have doubled, and the govt. is looking more inhuman. IMF programs have always brought stagflation now they are bringing hell. Economic situation is getting worse by the day.

 

[RoadRunner401]

Early Elections look closer than ever. Inflation has sky rocketed. Idiot Khan has ruined the economy. His decision to take IMF money was seen as his biggest mistake and it will definitely bury his political legacy for good.

Food prices have doubled, and the govt. is looking more inhuman. IMF programs have always brought stagflation now they are bringing hell. Economic situation is getting worse by the day.

You think by calling early election and reelecting PPP or PML_N will fix all the ills because PML_N or PPP can pay back the billions they borrowed and stole to ease yours and My pain?
Not sure how to break this to you, but billions borrowed has to be paid back with interest and that's what's killing us right now, after making the debt payments government has no money left to run the country.

 

[bananarepublic]

The people can't take anymore taxes
Fix the economy and fix your government

 

[Peaceful Civilian]

The people can't take anymore taxes
Fix the economy and fix your government

This is not poor country, just visit highway or road for a second, you will see cars like flies. This nation got habbit of evading taxes. You can spend one million on marriage but can't pay few thousand Rs tax.

 

[A.A. Khan]

You think by calling early election and reelecting PPP or PML_N will fix all the ills because PML_N or PPP can pay back the billions they borrowed and stole to ease yours and My pain?
Not sure how to break this to you, but billions borrowed has to be paid back with interest and that's what's killing us right now, after making the debt payments government has no money left to run the country.

Had enormous Debt before also and this bsexcuse does'ntwork anymore as his so-called clean govt.has taken more debt and yet to give anything back. Imran has screwed the economy.

And corruption is going on as we speak. He himself cut the hands of NAB to go after bureaucrats and Businessmen.He negotiated pathetically with the IMF. The conditions with which he has taken $6 bn has contracted Pakistan total GDP from $300 bn to $284 bn,with the businessmen having lost complete confidence.

His IMF hitmen State Bank Governor and Finance Minister Hafeez Shaikh has devastated the economy with food inflation squeezing the common man. And they are piling up utility prices on gas and electricity without finding a way out.
This bs excuseof 96 bn debt does'nt work anymore as this PTI govt. has in2 years brought losses ranging around $50 bn with no improvement in future. His ministers are nutjobs this govt. has zero economic vision.

 

[Hiraa]

Tax the elite businessmen and bureaucrats.

 

[A.A. Khan]

This is not poor country, just visit highway or road for a second, you will see cars like flies. This nation got habbit of evading taxes. You can spend one million on marriage but can't pay few thousand Rs tax.

Check the percentage of indirect taxes and taxes on the urban middle class and salaried class. The city dwellers in Pakistan are actually giving hell of a lot of taxes which is being spent on well-being of corrupt terrorist bureaucrats who have made Pakistan into a Somalia. Pakistanis are paying for ghost employees of Sindh who exist on paper butdon't even go to work. Now with the dood prices going up he can't even sustain his monthly wages. People are crying with choice of whether to buy food or give school fees for their children. This is the worst era after PPP of 2008 and 1994.

Tax the elite businessmen and bureaucrats.

Rofl

 

[Hiraa]

Rofl

mazak to naheen kiya tha mene, hasi kyun arahi hai? Aren’t elite businessmen evading taxes in this country?

 

[Pakistani Fighter]

mazak to naheen kiya tha mene, hasi kyun arahi hai? Aren’t elite businessmen evading taxes in this country?

Most of them are liberals and feminists therefore they get away with the burden

 

[litman]

new elections will take place and what will be the situtation. pml n in punjab . ppp in sindh and anp in KPK along with mullah diesel back as chairman kashmir committee. ....what a combination? pak simply doesnt have enough capable men to run the affairs of the country. pak say zinda bhag.

 

[AZ1]

Check the percentage of indirect taxes and taxes on the urban middle class and salaried class. The city dwellers in Pakistan are actually giving hell of a lot of taxes which is being spent on well-being of corrupt terrorist bureaucrats who have made Pakistan into a Somalia. Pakistanis are paying for ghost employees of Sindh who exist on paper butdon't even go to work. Now with the dood prices going up he can't even sustain his monthly wages. People are crying with choice of whether to buy food or give school fees for their children. This is the worst era after PPP of 2008 and 1994.



Rofl

So what is the solution bring nawaz back so that he took $30 billiok lln nore to make another metro train and given subsidy because last I remember when ever he comes in power left huge amount of loan for country to be paid, be it when musharaf came in power then again IK came in power. Other fix things for him and he ruin economy and leave for london.

 

[Sine Nomine]

Tax the elite businessmen and bureaucrats.

Just get into your head mate,they give gifts,arrange foreign trips of all sorts with family and help run election campigns,none of it is meant for paying taxes,it's for keeping own wealth safe and business running.

So what is the solution bring nawaz back so that he took $30 billiok lln nore to make another metro train and given subsidy because last I remember when ever he comes in power left huge amount of loan for country to be paid, be it when musharaf came in power then again IK came in power. Other fix things for him and he ruin economy and leave for london.

Don't you think those who let him go,should be asked about it.

 

[A.A. Khan]

new elections will take place and what will be the situtation. pml n in punjab . ppp in sindh and anp in KPK along with mullah diesel back as chairman kashmir committee. ....what a combination? pak simply doesnt have enough capable men to run the affairs of the country. pak say zinda bhag.

Rofl
Speaking as though Pakistan is doing better than that time. Come and live in Pakistan this is worst time than PPP's 2008 IMF program. Overnight basic necessities cost has multiplied. Rofl Pti's major backers also don't live in tne the country they are mostly based outside.

You have people paying more for Petrol, gas,water supply, electricity, food without getting the service. Govt. exported pak's staple food wheat to Afghanistan and had to import expensive wheat from abroad. Most of the winters Gas loadshedding occurred throughout Pakistan as the govt. did'nt import sufficient LNG due to pertrol mafia.
And then IMF's conditions which is like committing suicide to somehow press more taxes on salaried class already struggling for food payments so that sum of $550 million can be released in March.
Mafias are being emboldened incl. sugar mafia thanx to Jahangir Tareen. Terrible times ahead

 

[AZ1]

Just get into your head mate,they give gifts,arrange foreign trips of all sorts with family and help run election campigns,none of it is meant for paying taxes,it's for keeping own wealth safe and business running.


Don't you think those who let him go,should be asked about it.

They are same to be punish as those brought nawaz again and again for personal gain and corruption. Guess who are they?

Rofl
Speaking as though Pakistan is doing better than that time. Come and live in Pakistan this is worst time than PPP's 2008 IMF program. Overnight basic necessities cost has multiplied. Rofl Pti's major backers also don't live in tne the country they are mostly based outside.

You have people paying more for Petrol, gas,water supply, electricity, food without getting the service. Govt. exported pak's staple food wheat to Afghanistan and had to import expensive wheat from abroad. Most of the winters Gas loadshedding occurred throughout Pakistan as the govt. did'nt import sufficient LNG due to pertrol mafia.
And then IMF's conditions which is like committing suicide to somehow press more taxes on salaried class already struggling for food payments so that sum of $550 million can be released in March.
Mafias are being emboldened incl. sugar mafia thanx to Jahangir Tareen. Terrible times ahead