IMF Chief Urges Pakistan to Tax Rich, Protect Poor as Inflation Soars After Bailout

IMF chief Georgieva urged Pakistan to tax the wealthy more and protect the poor amid high inflation after IMF bailout.
Inflation in Pakistan hit 27.4% in August after IMF approved $1.2 billion transfer in July.
Georgieva said Pakistan should address "shortcomings" of the past and implement IMF reforms.
Caretaker PM Kakar met Georgieva in New York and agreed on need for policies to ensure stability and growth.
ADB report warned of exceptionally high downside risks to Pakistan's economy despite IMF program through 2024.

indianexpress.com

Relevant topic timeline:

8/26/2023

IMF’s nod essential for giving relief in electricity bills: Miftah Ismail

Former finance minister Miftah Ismail reveals that the caretaker government in Pakistan must seek permission from the International Monetary Fund (IMF) before giving relief to consumers facing inflated electricity bills, and urges political leadership to come up with a strategy to collect taxes from the rich.

10/10/2023

World Bank Urges Pakistan to Tax Rich, Spare Poor in Revenue Overhaul

The World Bank has recommended that Pakistan tax the agricultural and real estate sectors and merge the thresholds for the salaried and non-salaried class in order to generate revenue and reduce fiscal deficits, while protecting the poor.

10/10/2023

Tax Reform Proposals Focus on Broadening Base, Protecting Poor

The World Bank has urged Pakistan to eliminate tax exemptions and bring agriculture, real estate, and retail sectors into the tax net to generate additional revenue, while also recommending the simplification of the income tax structure.