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Top policymakers suggest quick decisions to revive IMF program

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The administration’s leading decision-makers have proposed that the government make prompt choices to resolve the stalemate and revive the IMF program. They identify political considerations as the main obstacle preventing the highest level of government officials from implementing harsh economic measures.

Prime Minister Shehbaz Sharif will need to make choices regarding severe actions, including imposing additional taxes of Rs300 to Rs400 billion primarily through increasing indirect taxes and withholding taxes’ rates, billing consumers for the full cost of electricity by raising the per unit rate in the range of Rs7.50 and increasing the gas tariff by 50% to 60% on an immediate basis.

Sources told The Republic Policy News on Tuesday that, “The dissatisfaction among top decision-makers has been escalating as they have outlined a strategy, attached a cost and its consequences in the event of not following IMF’s recommendations as the cost of adjustments will continue to rise with each passing day.”

The current government desires a guarantee that they will continue to govern in the upcoming months as there are concerns that they may be removed from office after implementing harsh measures such as raising utility prices and imposing additional taxes.

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