Prime Minister Shehbaz Sharif on Wednesday expressed the belief that Pakistan’s economy can be revived and put on the path of development with the help of another International Monetary Fund (IMF) programme. He said this could potentially bring about positive changes and opportunities for the country.
Prime Minister Shehbaz Sharif, in a grave tone at the cabinet meeting, emphasized the gravity of the situation, stating, “Either we perform or perish; it’s a do or die situation.” He underscored the pressing issues of rising electricity and gas theft, the low tax-to-GDP ratio, and the rapid increase in expenditure that need immediate and serious attention.
“As the government proactively initiates negotiations with the IMF for the next programme, the Fund’s condition and requirement is to increase the tax base”, he said, adding that some businesses with huge earnings are not paying taxes. The government is actively negotiating with them to bring them into the tax net to fulfil the IMF’s requirement.