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Pakistan must reduce energy losses, increase tax revenue, IMF ThePipaNews

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Pakistan's economy faces challenges, World Financial Institution statement (File Photo)

Pakistan’s economy faces challenges, World Financial Institution statement (File Photo)

Islamabad: Pakistan needs to reduce energy losses and increase tax revenue due to economic challenges, the IMF said.

According to Express News, the IMF has said that Pakistan’s economy is facing challenges, so Pakistan needs to reduce energy losses and increase tax revenue. The International Monetary Fund yesterday issued a statement on the approval of the Seventh and Eighth Economic Review of Pakistan, according to which the loan program has been approved for extension till June 2023, while the loan program for Pakistan has been increased from $6 billion to $5.5 billion. billion dollars 6 billion dollars.

The statement also said that an installment of $1.1 billion has been approved for Pakistan. Pakistan needs to ensure market based exchange rate, sustainable development can be ensured by improving business environment and inflation. The best measure to control interest rate hikes.

The IMF said Pakistan needs to improve social sector protection and the efficiency of state-owned enterprises.

Note that yesterday the Executive Board of the International Monetary Fund (IMF) approved the Staff Level Agreement with Pakistan. The IMF Board has approved the release of about $1.17 billion to Pakistan and the loan amount will be transferred by the IMF to Pakistan this week.

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