ISLAMABAD (Dunya News) – Minister for Finance and Revenue Shaukat Tarin on Wednesday said that the International Monetary Fund’s (IMF) behaviour towards Pakistan is not friendly.
Commenting on the budget in the Finance Committee, the finance minister said that during the financial year 2022-23, growth will be 6 percent, in 2018, it showed unstable growth from 5.8 percent.
The growth rate didn’t stabilize due to lack of structural reforms. The growth target for the current financial year was 2.1%. He said stable growth is required for the next 25 to 30 years, adding that the tax to GDP needs to be increased by 1% per annum.
Tarin went on to say that the attitude of IMF was not friendly with Pakistan and the international lender wanted all the targets to be met immediately. He said the IMF wants the ongoing reforms to be implemented immediately, adding the international lender was given an alternative revenue target plan.
He said that the interest rate was raised to 13.25 percent at the request of IMF. The minister said the international body has imposed conditions to increase electricity and gas tariffs but rising electricity and gas tariffs have pushed up inflation.