As the time for submitting income tax returns expired last month, sources claimed on Saturday that the International Monetary Fund (IMF) has called for a mini-budget in Pakistan to address tax revenue deficiencies.
A fresh $7 billion, 37-month loan deal for Pakistan was agreed by the IMF’s Executive Board in September; it calls for “sound policies and reforms” to improve macroeconomic stability. With the approval, Islamabad received an instant $1 billion payout.
The crisis-plagued Since 1958, 22 IMF bailout initiatives have been implemented in South Asian countries.
This requirement has been made in an effort to help reach the government’s tax goals. Pakistan must implement two to three mini-budgets for the current fiscal year in accordance with the IMF’s recommendations.
