Pakistan government approves new tax on power to meet IMF conditions

 

Islamabad : Pakistan is moving swiftly to pacify the IMF with the approval of a new tax on electricity users, including farmers, to raise an additional Rs 170 billion in revenue to meet the conditions of the global lender, according to a statement.

The International Monetary Fund delegation held 10-day marathon talks with Pakistan officials here to release the next tranche of USD 1.1 billion out of an already agreed loan but left on Thursday for Washington without signing a staff-level agreement.

Finance Minister Ishaq Dar, who had led the Pakistan side in talks, told the media on Friday that prior actions were needed as the two sides would resume the talks in virtual mode from Monday.