IMF mission gives sunny outlook of Pakistan's economic situation as review ends

[313ghazi]

The International Monetary Fund (IMF) mission concluded that Pakistan had been successful in completing the "structural benchmarks" as well as in meeting "all end-December performance criteria" which had been set for the implementation of $6 billion Extended Fund Facility programme.

In a press release issued on Friday after an IMF mission concluded its review of Pakistan's economic reforms, the visiting delegation said it had held "constructive and productive discussions with the Pakistani authorities".

The mission acknowledged that Pakistan had made "considerable progress [...] in advancing reforms and continuing with sound economic policies". It added that economic activity in the country has "stabilised and remains on the path of gradual recovery". It also noted that the current account deficit had declined due to the "real exchange rate that is now broadly in line with fundamentals".

The IMF mission further said that Pakistan's international reserves were increasing "at a pace considerably faster than anticipated".

ARTICLE CONTINUES AFTER AD
The press release said that the first half of the fiscal year "had been strong" and that inflation was expected to decline as the shocks caused by sudden depreciation had subsided. It also stated that spending on social and development projects had increased.

The IMF delegation, led by Mission Chief to Pakistan Ernesto Ramirez-Rigo had held meetings with Pakistani officials during February 3-13.

On July 3 last year, the IMF executive board had approved a $6 billion bailout package for Pakistan and immediately released $1bn to ease a sustained pressure on the country’s foreign exchange reserves.

https://www.dawn.com/news/1534459/i...f-pakistans-economic-situation-as-review-ends

 

[razgriz19]

The reason economy is "down" is because the patwaris finally have to pay taxes. The system is shocked. The economy will bounce back soon

 

[gangsta_rap]

The reason economy is "down" is because the patwaris finally have to pay taxes. The system is shocked. The economy will bounce back soon

shut up wagecuck
taxation is theft

 

[GumNaam]

shut up wagecuck
taxation is theft

oh but wait...don't you happily pay 35% income tax plus a whole lotta sales tax in canada? why don't scream "taxation is theft" at canada then?

 

[bafxet]

oh but wait...don't you happily pay 35% income tax plus a whole lotta sales tax in canada? why don't scream "taxation is theft" at canada then?

Who pays taxes in Pakistan!.

Tax collection in Pakistan is uphill task, both tax payer are tax collectors are collaborate to evalde taxes.

Pakistan is a country where instead of taxing income we look at the where it is coming from. This makes a large portion of Agriculture tax free. Than there is a large portion comes from indirect taxes i.e custome duty and sale tax. After that, comes salaried class.

In Pakistan no other way except taxes deducted at source is works.

Bullion rupee businesses like property, jewellery, Cars etc etc pay little tax.

 

[GumNaam]

Who pays taxes in Pakistan!.

Tax collection in Pakistan is uphill task, both tax payer are tax collectors are collaborate to evalde taxes.

Pakistan is a country where instead of taxing income we look at the where it is coming from. This makes a large portion of Agriculture tax free. Than there is a large portion comes from indirect taxes i.e custome duty and sale tax. After that, comes salaried class.

In Pakistan no other way except taxes deducted at source is works.

Bullion rupee businesses like property, jewellery, Cars etc etc pay little tax.

Well the uphill tax is gonna get flattened real fast. Want first world living? Gotta pay first world taxes. No ifs ands or buts about it. If you didn't wanna pay taxes then you shouldn't have voted for the crooked beggers who increased the national debt 10 folds in 10 years compared to the last 60 years. No choice BUT to pay taxes now.

 

[bafxet]

Well the uphill tax is gonna get flattened real fast. Want first world living? Gotta pay first world taxes. No ifs ands or buts about it. If you didn't wanna pay taxes then you shouldn't have voted for the crooked beggers who increased the national debt 10 folds in 10 years compared to the last 60 years. No choice BUT to pay taxes now.

I wish, let me reiterate thst I wish that Govt doesn't bow down in front of the people of vested interest and collects taxes ruthlessly across the board upon their income.

But I don't see it happening anytime soon after all a wish is just a wish.

So far only the Tax deducted at source is successfull.

 

[bananarepublic]

Who pays taxes in Pakistan!.

Tax collection in Pakistan is uphill task, both tax payer are tax collectors are collaborate to evalde taxes.

Pakistan is a country where instead of taxing income we look at the where it is coming from. This makes a large portion of Agriculture tax free. Than there is a large portion comes from indirect taxes i.e custome duty and sale tax. After that, comes salaried class.

In Pakistan no other way except taxes deducted at source is works.

Bullion rupee businesses like property, jewellery, Cars etc etc pay little tax.

have you seen that suddenly in the news all of the major companies are reporting huge profits after years of running on "losses".
and suddenly all of the major sugar mills are reporting losses in their revenue.
The next step must be to reform the FBR and the AGPR into a cohesive effective tax collector and not some british relic .