ISLAMABAD: The International Monetary Fund (IMF) has recently approved a $3 billion loan for Pakistan. However, the bailout installment comes with conditions for a second review, JEE News reported on Monday.
Now, the Washington-based lender has asked the government for a plan to tax the real estate and agricultural sectors, the publication added, citing sources.
According to sources, the IMF has said that taxes should be imposed on property and agriculture sectors to increase the country’s income.
Sources added that the IMF believes that Pakistan has the potential to increase revenues from these two sectors.
If the Federal Bureau of Revenue (FBR) plan is approved by the IMF, the mini-budget will be released. However, the decision to tax the property sector and agriculture sector will have to be taken by the new government.
Besides, the sources say that help will be taken from the World Bank to tax both the sectors.
It should be noted that a few days ago, Pakistan received the first installment of 1.2 billion dollars from the IMF.
In this regard, IMF officials say that Pakistan will have to implement the terms of the agreement for economic stability.
Prime Minister Shahbaz Sharif has also assured the IMF MD that the agreement will be fully implemented.
