{"id":39647,"date":"2022-01-14T12:41:34","date_gmt":"2022-01-14T12:41:34","guid":{"rendered":"https:\/\/thefreezonechannel.com\/?p=39647"},"modified":"2022-01-14T12:41:36","modified_gmt":"2022-01-14T12:41:36","slug":"pakistan-moves-to-raise-more-taxes-to-meet-imfs-conditions","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/pakistan-moves-to-raise-more-taxes-to-meet-imfs-conditions\/","title":{"rendered":"Pakistan moves to raise more taxes to meet IMF\u2019s conditions"},"content":{"rendered":"<p>Pakistan\u2019s parliament has approved new financial measures to raise additional taxes to meet a key condition by the International Monetary Fund (IMF) to revive a stalled six-billion-dollar bailout package.<\/p>\n\n\n\n<p>The approval by the country\u2019s National Assembly late on Thursday came after the military-backed coalition government of Prime Minister Imran Khan won back the support of its allies following several weeks of bickering.<\/p>\n\n\n\n<p>The new law envisaged ending tax exemptions on several consumer goods, including baby formula and groceries to help the government collect 1.93 billion dollars in additional revenue yearly.<\/p>\n\n\n\n<p>Pakistan\u2019s opposition parties and economic experts said the move would trigger a new wave of inflation in the country where the annual rate of price hike was already in double digits, one of the highest in the world.<\/p>\n\n\n\n<p>Pakistan secured the bailout package in 2019, to avert a balance of payment crisis, but the loan was suspended twice after the payment of only three tranches.<\/p>\n\n\n\n<p>A sum of 500 million dollars was paid in 2021 before the latest suspension due to Pakistan\u2019s failure to implement an economic reform agenda.<\/p>\n\n\n\n<p>An executive board of the Fund was scheduled to meet by the end of the month to approve a one-billion-dollar tranche for Pakistan.<\/p>\n\n\n\n<p>The development was seen as a vital boost for Pakistan to revive its crumbling economy.<\/p>\n\n<!--themify_builder_content-->\n<div id=\"themify_builder_content-39647\" data-postid=\"39647\" class=\"themify_builder_content themify_builder_content-39647 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->","protected":false},"excerpt":{"rendered":"<p>Pakistan\u2019s parliament has approved new financial measures to raise additional taxes to meet a key condition by the International Monetary Fund (IMF) to revive a stalled six-billion-dollar bailout package. The approval by the country\u2019s National Assembly late on Thursday came after the military-backed coalition government of Prime Minister Imran Khan won back the support of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11960,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[241],"tags":[156,623],"class_list":["post-39647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","tag-imf","tag-pakistan","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pakistan moves to raise more taxes to meet IMF\u2019s conditions - The Freezone Channel<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thefreezonechannel.com\/old\/pakistan-moves-to-raise-more-taxes-to-meet-imfs-conditions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pakistan moves to raise more taxes to meet IMF\u2019s conditions - The Freezone Channel\" \/>\n<meta property=\"og:description\" content=\"Pakistan\u2019s parliament has approved new financial measures to raise additional taxes to meet a key condition by the International Monetary Fund (IMF) to revive a stalled six-billion-dollar bailout package. 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