A few days ago, Pakistan received a loan of 1 billion dollars from the International Monetary Fund (IMF). Questions were being raised about the action of the IMF when money was given to Pakistan, which nurtures terrorists. Now the IMF is afraid that the money given to Pakistan may go to waste, so the organization has taken a big step.
The IMF has imposed 11 new conditions before releasing the next installment of its relief program for Pakistan. At the same time, the IMF has described the India-Pakistan tension as a serious risk to the economic program.
It will be mandatory to pass a new budget of Rs 17,600 billion for the next financial year from Parliament.
Electricity bills will have to be increased.
The ban on import of used cars older than three years will have to be lifted.
Implementation of new agricultural income tax law by the four federal units, which has to improve taxpayer identification, return processing, and compliance.
The communication campaign in the country will have to be strengthened.
The functioning of operational reforms based on IMF recommendations will have to be shown.
The financial sector strategy after 2027 will have to be prepared and made public.
Four additional conditions related to the energy sector have also been
Pakistan, which is facing the brunt of inflation and a weak economy, is continuously increasing its defense budget. Pakistan’s upcoming defense budget is Rs 2,414 billion, which is 12 percent more than last year. However, the Shahbaz government increased it to Rs 2,500 billion (18 percent increase) earlier this month. It is feared that the IMF may express displeasure over this decision of Pakistan.
