Shahbaz government's whistle-blower missing in front of IMF, case stuck on fiscal deficit of Rs 900 billion
Time to Read 1 Min
Pakistan's Prime Minister Shehbaz Sharif has said that the terms of the IMF bailout package are unimaginable but the government will still continue discussions.
Pakistan is continuously getting stuck due to the country's fiscal deficit of 900 billion rupees. He is unable to talk with the International Monetary Fund (IMF) on this issue, due to which the deadlock continues. This is a major hindrance in carrying out employee-level agreements. The IMF has fixed a huge gap of around Rs 900 billion, equivalent to 1 percent of the gross domestic product (GDP). According to media reports, the IMF is asking for increasing the GST rate to 17 to 18 percent or levying 17 percent GST on petroleum, oil and lubricants (POL) products.
Along with this, Pakistan has opposed the huge fiscal gap to achieve the primary deficit. Pakistani officials have asked the IMF to include cut flows under the Revised Circular Debt Management Plan (CDMP) and reduce the amount of additional subsidy required by Rs 605 billion against an earlier target of Rs 687 billion.
