IMF lending won’t help govt address economy’s basic flaws: Mian Zahid

KARACHI: Chairman of National Business Group Pakistan and President of Pakistan Businessmen and Intellectuals Forum, Mian Zahid Hussain has said tax and other measures will comfort the government but add to the problems of the masses.

The tough decisions of the government will help it borrow from the IMF but will not help address the economy’s fundamental flaws, he said.

Mian Zahid Hussain said that in the remaining four months of this fiscal year, the government’s deficit will be reduced by the new taxes of 170 billion. Details released about the decision include raising the sales tax from 17 to 18 percent and increasing duties on the cigarette industry, air travel, and beverages, among other measures.

He said that an increase of 40 billion rupees in the funding of the Benazir Income Support Program, which has been increased from Rs360 billion to Rs400 billion is welcome.

Copyright Business Recorder, 2023