One of its biggest Economic Crisis facing Pakistan....
Pakistan is facing one of its biggest economic crisis and taxes have been raised by the government which allowed currency to depreciate to meet the IMF’s conditions.
Ishaq Dar Pakistan Finance Minister said to implement fuel subsidies plans have been share with International Monetary Fund to help alleviate the lender’s concerns before it revives a stalled $6.5 billion bailout.
Dar confess in a television program, "It's basically about taking money from rich and giving it to poor ones," adding in it subsidies will not impact country budget. With IMF officials several meetings have been held in Islamabad this week along with many actions to restart the loan program have been completed, he added.
In Pakistan history the country is going through on of its biggest crisis and this week earlier it raised interest rates to an all-time high after consumer prices quickened to a fresh record. Taxes and energy prices were raised by the government and allowed the currency to depreciate to meet the IMF’s conditions.
For comment on Saturday the spokesperson for IMF didn't immediately respond to a request.
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