Pashto Times

Key Points Of The IMF 112 Pages Country Report About Pakistan. By Farukh Abbasi IMF’s 112 page Pakistan country report was just released. It clarifies a lot of things that are being discussed about our economic affairs these days.  This THREAD will highlight key points. • IMF revived the program and extended the facility after the current govt showed some progress on 7 key steps that were promised by Shaukat Tareen. These included taxes and levies on fuel, increasing tariffs on electricity and gas and also increasing taxes on salaries class. • Imran Khan’s four month relief package led to a missed end-June fiscal target by a lot.  It also widened the fiscal deficit by more than 1.5% of the total GDP. • After some initial delay, the new government started to unwind the relief package in late-May 2022 removing the untargeted power and post-tax fuel subsidies, commencing the restoration of the Petroleum Development Levy (PDL, ¶14), while expanding social support schemes. • Additi...