The executive board of the International Monetary Fund (IMF) has stressed the “sustained implementation” of the new $7 billion bailout package, as well as broadening the tax base

The Executive Board of the International Monetary Fund (IMF) has called for “sustainable implementation” of a new $7 billion bailout package, as well as broadening the tax base. 37-month Extended Fund Facility (EFF) for Pakistan, under which it has disbursed a $1 billion tranche. The government agreed to the deal in July – its 24th IMF payment since 1958 – in exchange for unpopular reforms, including its expansion. Perpetually low tax base. “This program should be considered as the last program,” Prime Minister Shahbaz Sharif said in July when the loan deal was signed. This comes on the condition of far-reaching reforms that include increasing household bills and pitiable tax collections to address the perennially crisis-ridden energy sector. The latest statement, issued after consultations with Pakistan and approval of the bailout, said the IMF. The Executive Directors “particularly emphasized the criticality of sustainable implementation of the program, including capacity development and close collaboration with development partners, to mobilize additional financing and restore market access.” can go.” The Directors also welcomed the steps taken towards a better tax system and emphasized its importance. Efforts to generate additional revenue by broadening the tax base and enhancing tax administration. “Along with prudential expenditure management, this will create space for necessary investments in human capital, infrastructure and social security,” the press release added.