ISLAMABAD: Pakistan Peoples' Party (PPP) has expressed grave concern over further stringent negotiations with the International Monetary Fund (IMF) and rejected the proposal of the PTI government to increase income-sales tax and regulatory duties.

PPP Secretary General Syed Nayyar Hussain Bukhari has expressed concern over the IMF's terms and expressed fears of further inflation in the country.

He said the PTI government should refrain from taking steps to "change" growth by derailing economy.

He said the IMF had proposed to the government to increase sales tax and regulatory duties.

He said, "Pakistan is being trapped in the clutches of financial institutions by accepting severe conditions of IMF for getting loan."

Bukhari said in a statement on Friday, "Pakistan is an independent country, how can the IMF dictate? PPP has serious concerns over the IMF's proposals. The PPP rejects all these conditions of the IMF."

He said "if the IMF's dictation is implemented, no one can stop the tsunami of inflation in the country."

Copyright Business Recorder, 2021