The Finance Minister has hinted re-negotiating an agreement with the international body, saying that they can’t force people to give more taxes.
ISLAMABAD: (UrduPoint/Pakistan Point News-May 3rd, 2021) Finance Minister Shaukat Tarin said that International Monetary Fund (IMF) has committed injustice with them, hinting at re-negotiating an agreement with the international body.
Shaukat Tarin said that they would take up the matter of increase in tariff with IMF.
He expressed these words during a meeting with National Assembly’s sub-committee on finance. The Finance Minister said that maintain interest rate at R 13. 25 per cent was a great mistake. He also objected to announcement to privatize institutions that the government was unable to run.
Tarin said: “There will be improvement in moving economy,”.
He stressed the need to broaden the tax net in the country.
“We can’t force people to give more taxes,” said Tarin, pointing out that agriculture and industries could improve the country’s economic growth.
The minister said: “Pakistan spends 0.25 percent of its GDP on the housing sector only,”.
He stated that there was need of improving the living standard of the public.
Talking about lack of planning, Tarin suggested introducing a comprehensive mechanism for 20 to 30 years for stable economic growth. He was of the view that there was a lack of planning regarding the economy in the country and suggested introducing a comprehensive mechanism for 20 to 30 years for stable economic growth.
“85 per cent of the country’s income is spent in nine cities of the country,” Tarin added.