IMF wants Pakistan to do more than just levying taxes
Pakistan should not be limited to taking measures related to tax alone_ but it should also find other ways to enhance the competitiveness of the economy_ said IMF s Resident Representative Ms Esther Perez Ruiz.
Speaking to the office-bearers of the Lahore Chamber of Commerce and Industry on Tuesday_ she said the purpose of the IMF programme is to promote macroeconomic stability and the country s fiscal and monetary policies must promote the former s vision in this regard.
She said the IMF programme s aim is to bring a set of policies that could promote sustainable and inclusive growth.
She maintained that since the country s tax-to-GDP ratio is very low_ the purpose of eliminating sales tax exemptions to the industry through the recent finance bill is to reduce the complexity in the taxation system.
We want Pakistan to attain a long-lasting and durable growth. And for this there is need to first endeavour to implement the macroeconomic policies_ leading to the country s economic development_ she said.
However_ we will remain open to hear remarks_ observations and concerns [on the IMF programme] from your end_ Ms Ruiz said.
Speaking on the occasion_ LCCI President Mian Nauman Kabir said the chamber is quite sensitive about the impact of Pakistan s ongoing 22nd IMF programme on the national economy and particularly on the private sector growth. We will_ however_ witness the successful completion of this programme as well just like the 21st programme_ he added.
He termed the interaction with the IMF team better understanding of IMF policies and also know about the major success stories related to such programmes adopted by other countries.
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