Islamabad (Turkiye Khabar): The International Monetary Fund (International Monetary Fund) has reportedly imposed 11 new strict conditions on Pakistan, including continuous increases in energy prices and a significant rise in tax targets.
According to a private TV report, an estimated Rs. 1,727 billion is expected to be collected from the public under petroleum levy in the upcoming fiscal year.
The report further states that the IMF has set a tax target of Rs. 15,267 billion for the Federal Board of Revenue Federal Board of Revenue, with proposals for an additional Rs. 430 billion in new taxes to achieve the goal. This includes Rs. 215 billion in fresh taxes, while Rs. 115 billion is expected to be generated through improved tax collection mechanisms.
The IMF has also reportedly made conditions regarding ensuring the independence and transparency of anti-corruption institutions.
In addition, regular notifications for increases in electricity and gas prices have been made mandatory under energy sector reforms.
Other key conditions include parliamentary approval of the federal budget, strengthening of anti-corruption systems and public procurement processes, and improvements in tax administration.
The program also includes continuation of the Benazir Income Support Programme (Benazir Income Support Programme), a roadmap for exchange rate autonomy, and measures to enhance regulatory transparency.
Further requirements include amendments to PPRA rules, phasing out incentives in Special Economic Zones by 2035, and establishing a Pakistan Regulatory Registry for business regulation at the federal level.
Economic experts say these measures are considered necessary for achieving macroeconomic stability and meeting the targets of the ongoing financial program.
