Tax the rich, protect the poor: IMF Managing Director urges Pakistan

IMF Managing Director Kristalina Georgieva has urged Pakistan to collect more taxes from the wealthy and protect the poor people

New York/Islamabad: IMF Managing Director Kristalina Georgieva has urged Pakistan to collect more taxes from the wealthy and protect the poor people, as the cash-strapped country reels under double-digit inflation after securing a bailout from the global lender in July, media reports said on Thursday.

Speaking to Geo News after meeting Interim Prime Minister Anwaarul Haq Kakar on the sidelines of the 78th United Nations General Assembly (UNGA) session in New York, Georgieva said it is in the interest of the people of Pakistan that the country revitalises its economy and addresses some of the “shortcomings” of the past.

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“What we are asking in our programme is that please collect more taxes from the wealthy and please protect the poor people of Pakistan,” the IMF chief said. “I do believe this is in line with what people in Pakistan would like to see for the country,” she added.

“Shortcomings” of the past should be addressed, Georgieva urged, referring to reforms the International Monetary Fund (IMF) has sought in the country, Geo News reported from New York.

Her comments come amid soaring inflation in Pakistan after the Washington-based global lender transferred $1.2 billion to the cash-strapped country in July, a part of the $3 billion bailout programme for nine months to support the government’s efforts to stabilise the country’s ailing economy.