Islamabad: Pakistan to increase taxes following pressure from the International Monetary Fund. The effort is to find 17,000 rupees through tax hike. 10 negotiations with the IMF have been completed so far. No final decision. However, the IMF wants to cut subsidies and increase tax revenue. It is Pakistan’s decision to implement the proposal.
As part of this, the Economic Coordination Committee of Pakistan approved the proposal to increase the electricity rate by Rs 3.39 per unit. Electricity subsidies will be abolished. Electricity subsidy for farmers will not continue after March 1.
But the power subsidy for the military will continue. The government will allocate Rs 45 crore for this. GST Pakistan has agreed to increase the tax by one percent, bringing the total tax to 17 percent.
Sri Lanka
The IMF’s attitude towards Sri Lanka has been tightened. IMF Sri Lanka is now catching up with aid. Sri Lanka expects assistance of Rs 23930.95 crore. The IMF has said it will only provide aid if a clear plan for debt reduction is presented. stance At the same time, the President of Sri Lanka, Renil Wickremesinghe, said that the crisis in the country would end within six months. The government has made unpopular decisions. It will only be for a while. Everyone’s income will increase by 75 percent in three years. He said that by the end of this year, the salary of government employees will increase.
The country’s foreign debt is now Rs 420,854.55 crore. Of this, Rs.231,057.40 crore is to be paid within four years. Life is still not back to normal in Sri Lanka. Schools and government offices are operating normally. Power cuts continue. Fuel regulation also worries the people. Another hope of Lanka is the help offered by India, USA, France and Britain.
India is also ready to give concessions on debt repayment. But 10 percent of Lanka’s debt comes from China. China is not willing to negotiate on repayment.
