Wednesday, July 24, 2024

IMF Urges Pakistan to End Cheap Gas Subsidies to Fertilizer Plants

The International Monetary Fund (IMF) has presented significant demands to Pakistani authorities during recent meetings, calling for an end to the subsidized gas supply to fertilizer factories and advocating for tax reforms across various sectors of the economy.

Sources reveal that the IMF delegation stressed the need to halt the provision of cheap gas to fertilizer plants, citing concerns over its detrimental impact on Pakistan’s fiscal health. Additionally, they emphasized the importance of documenting the real estate sector and integrating it into the tax system to boost revenue collection and enhance transparency.

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Discussions between the IMF delegation and Pakistani officials, including the Energy Minister, Federal Board of Revenue (FBR), and representatives from the Benazir Income Support Programme (BISP), were held in Islamabad to address these pressing economic issues.

IMF officials highlighted the stability of commodity prices in the global market but expressed apprehension over the rising inflation rates in Pakistan. They underscored the urgency of implementing effective economic policies to tackle these challenges head-on.

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Zubair Yaqoob
Zubair Yaqoob
Zubair Yaqoob is a senior anchor, and an investigative journalist with an impressive 37 years of experience. Zubair's journalistic journey has been marked by a relentless pursuit of truth and a commitment to delivering impactful stories.Zubair's expertise extends beyond borders, reaching as far as Malaysia, where he has left an indelible mark on the international journalism landscape. His global perspective and keen analytical skills have allowed him to navigate diverse cultural landscapes, bringing a unique and enriching perspective to his reporting.Whether he's in the studio or on the field, Zubair continues to be a driving force in the world of journalism, bridging gaps, fostering understanding, and unraveling the stories that matter most. As the Headline PK Author, Zubair remains at the forefront of news, guiding audiences through the complexities of our ever-evolving world.

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