Advertisement
Categories: BusinessNewsPakistan

Finance Minister Warns of IMF Dependency if Taxes Are Not Increased

Advertisement

Federal Finance Minister Muhammad Aurangzeb has cautioned that Pakistan will remain reliant on the International Monetary Fund (IMF) unless tax revenues are increased.

In an interview with the Financial Times, Aurangzeb stated, “The upcoming IMF program will not be our last fund program if we don’t bring our tax revenues up.” He expressed optimism about reaching a staff-level agreement with the IMF this month, estimating its value between $6-8 billion.

Aurangzeb highlighted that Pakistan’s dependence on imports has resulted in a recurring cycle of debt and borrowing. He stressed the importance of enhancing the country’s loan repayment capacity.

PM Shehbaz Orders Swift Inclusion of 4.5 Million Non-Filers in Tax Net

The minister also pointed out the lack of trust in the Federal Board of Revenue (FBR) due to issues of corruption and harassment, which deters people from paying taxes.

Aurangzeb emphasized the need for the government to demonstrate positive performance in the next 2-3 months to address Pakistan’s financial challenges. He also noted the IMF’s appreciation for Pakistan’s tough economic decisions, including the recent hike in gas prices.

Advertisement
News Desk

Recent Posts

Pakistan to Witness Nearly 7 Million Animal Sacrifices on Eid-ul-Adha

Pakistan is expected to witness the sacrifice of more than 6.97 million animals during Eid-ul-Adha…

16 hours ago

US Tech Fund commits $10 million to 2 Pakistani IT entrepreneurs

Pakistan's two IT entrepreneurs-- Mehwish Salman Ali and Malik Mudassir—will receive funding of $10 million…

20 hours ago

Spotify’s Fresh Finds Celebrates a Decade of Discovering Breakout Talent

Spotify has announced a major milestone for 2025 - 10 years of Fresh Finds, the…

21 hours ago

Sindh Govt Bans Qingqi Rickshaws in Karachi, Imposes Heavy Fines Under New Traffic Reforms

Sindh’s Minister for Law and Home Affairs, Ziaul Hassan Lanjar, has approved sweeping changes to…

22 hours ago

AKU LEADS with micro-credentials: A flexible programme for academic advancement, upskilling and reskilling

Today, the world is changing rapidly more so than ever before with disruptive technological development…

22 hours ago

Aeon & Trisl Secures Emaar’s Top Broker Title for Q1 2025 – 7 Quarters in a Row

Aeon & Trisl Real Estate Group has once again claimed the coveted title of Emaar’s…

22 hours ago