IMF sets ‘tough’ conditions for bailout package

ISLAMABAD (92 News) – The International Monetary Fund (IMF) informed the government that if they want to get bailout package then face to tough conditions for Pakistan to implement in exchange for a bailout package. Much needed for economic revival, the talks have been entered in the final phase, however; the IMF delegation held meetings with the government officials and presented strict conditions for bailout package. The IMF demanded to further increase in the rate of sales tax, electricity, gas and petroleum products. The conditions in which the international lender had presented proposals to reduce the budget deficit, adding that the fund had suggested 1.0 per cent increase in the rate of general sales tax (GST), taking it to 18 per cent from the current 17 per cent. The increase in the rate of GST would give additional revenue of Rs70 billion, they added. Meanwhile, the decision about bailout package would be finalised after the submission of reply by Pakistan to the IMF.