Pakistan needs another IMF bailout: Shahbaz
ISLAMABAD: Prime Minister Shahbaz Sharif on Tuesday said that Pakistan needed another loan programme from the International Monetary Fund (IMF) to stabilise its fragile economy.
Shahbaz said this while addressing the Tax Excellence Awards ceremony.
The prime minister said the government is compelled to enter into a new IMF deal for the purpose of stability.
“We have to do another IMF programme. It won’t work out without one. Rome was not built overnight,” the prime minister said.
He, however, said that along with the IMF programme, the government will focus on fostering growth, creating job opportunities and addressing the issue of inflation.
Shahbaz said the voice of a nation is heard around the world if it’s economy is “strong,” as “no one listens to the voice of the weak.”
Shahbaz said the federal government in collaboration with the provincial governments will create enabling circumstances for the private sector and address their problems.
“The government of Pakistan, alongside the provincial set ups, must help the private sector,” he remarked.
He said that refunds to the tune of Rs65 billion have been made to the exporters, expressing the determination that in future the refunds will be made in a timely manner.
He said we will also go towards providing electricity to the industries on competitive rates in order to enhance their productivity.
The prime minister said the plaform of Special
Investment Facilitation Council (SIFC) has been established to give impetus to the investment.
He said the second phase of CPEC will be taken forward.
While talking about the tax reforms, the prime minister said the FBR will be fully restructured.
He said consultants will be hired next month for complete digitalisation of the tax collection body. Referring to low tax to GDP ratio, he said we will have to enhance the tax base.
Shahbaz stated that the leading taxpayers and exporters are the heroes of this country.
He stressed on eliminating red tape, as it causes immense hindrances.
“Let us all move forward with these difficulties and challenges together,” he insisted, hoping to bring a positive change in the country.
He announced that the recipients of awards, consisting of exporters and taxpayers, will be issued blue passports.