WASHINGTON: The International Monetary Fund (IMF) on Friday said
Pakistan needs to increase its ta
x revenue in order to fund development amid reports of yawning budget deficit.
Earlier this year, the IMF approved to
Pakistan a three-year bailout program of $6 billion. At the time, the sp
okesman had said this program would support
Pakistan’s efforts to achieve “
sustainable growth” and “improve the standards of living.” Islamabad ha
s already received the first tranche of this loan, worth $991.4 million, from the IMF.
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