Latest News About Pakistan set for tax hikes in return for massive IMF bailout

Pakistan set for tax. ISLAMABAD (AP) — Cash-strapped Pakistan will impose new taxes of 170 billion rupees this month in a push for a massive bailout, officials and analysts said Monday, even as they warned the new taxes could accelerate the inflation spiral of the country.

The bleak outlook from economists and political analysts comes after the International Monetary Fund delayed the release of a crucial $1.1 billion portion of a 2019 deal worth $6 billion, suspended since December for breach of the terms by Pakistan. The latest round of talks between Pakistan and the IMF concluded on Friday with the fund recommending measures including imposing new taxes.

Detail of Pakistan set for tax:-

ISLAMABAD (AP) — Cash-strapped Pakistan will impose new taxes of 170 billion rupees this month in a push for a massive bailout, officials and analysts said Monday, even as they warned the new taxes could accelerate the inflation spiral of the country.

Haq, the economist, said Pakistan’s inflation rate of 26% will jump to 40% after the imposition of new taxes. But, he said in an interview, “life will become more difficult for the common man if Pakistan fails to revive the IMF bailout without any further delay.” million, suspended since December for Pakistan’s breach of terms. The latest round of talks between Pakistan and the IMF concluded on Friday with the fund recommending measures including imposing new taxes.