The IMF expressed satisfaction over the structural reforms initiated by the present government. However, for further improvement in reforms it asked the government to take tax base to 0.5 percent of country’s GDP along with removing hurdles in the way to make investment, so that the pace of financial ratio could be increased by getting maximum investment.
The IMF further asked the Pakistan government to abolish concession in tax and also abolish SROs in this regard. The IMF also asked the government to reduce deficit and bring it between 5.5 percent and 5.75 percent of the GDP.
The sources said that the government was seriously thinking to implement proposals of IMF and it was expected that the announcement of implementing these proposals would be made in the financial budget 2014-15 which would be presented in June. The IMF said that there seemed improvement in Pakistan economy totally and it was expected that the ratio of GDP would be increased from 2.8 percent to 3.1 percent in the current financial year.
No comments:
Post a Comment