IMF urges Pakistan to mobilize domestic tax revenue
Washington: The IMF has urged Pakistan to mobilize domestic tax revenues to provide for the social and development spending and place debt on a downward trend.
The statement of International Monetary Fund (IMF) Acting Managing Director David Lipton came after he met Prime Minister Imran Khan who is on a three-day official visit to the US at the invitation of President Donald Trump.
"I highlighted the need to mobilize domestic tax revenue now and on into the future to provide reliably for needed social and development spending while placing debt on a firm downward trend," Lipton said Sunday.
He said that they discussed recent economic developments and the implementation of the authority's economic reform program supported by the IMF.
"Their program aims to stabilize the economy, strengthen institutions and thereby put Pakistan on a path of sustainable and balanced growth," Lipton said.
The IMF, together with other international partners, is working closely with the government of Pakistan to support the implementation of the authorities' economic reform program, he said.
Recently, the IMF cleared a USD 6 billion bailout package to cash-strapped Pakistan to overcome economic difficulties.
- By Lalit K Jha
