ISLAMABAD:: Cash-strapped Pakistan must take steps to ensure that its high earners pay taxes and only the poor get the subsidies if it wants to function as a country, the IMF has said, amid looming fears of a default.
In an interview with Deutsche Welle on Friday, IMF chief Kristalina Georgieva said Pakistan needs to take strong measures to avoid getting into a “dangerous place” where its debt needs to be restructured. She said IMF was clear it wanted the poor people of Pakistan to be protected, Dawn reported, “It shouldn’t be that the wealthy benefit from subsidies. It should be the poor (who) benefit from them.”
“What we are asking for are steps Pakistan needs to take to be able to function as a country and not to get into a dangerous place where its debt needs to be restructured… We are emphasising two things. Number one: Tax revenues. Those making good money need to contribute to the economy,” she said.
In an interview with Deutsche Welle on Friday, IMF chief Kristalina Georgieva said Pakistan needs to take strong measures to avoid getting into a “dangerous place” where its debt needs to be restructured. She said IMF was clear it wanted the poor people of Pakistan to be protected, Dawn reported, “It shouldn’t be that the wealthy benefit from subsidies. It should be the poor (who) benefit from them.”
“What we are asking for are steps Pakistan needs to take to be able to function as a country and not to get into a dangerous place where its debt needs to be restructured… We are emphasising two things. Number one: Tax revenues. Those making good money need to contribute to the economy,” she said.