A share of the loan-grant, worth $555.9 million , has been issued by International Monetary Fund(IMF) to Pakistan, reaffirming its confidence in the alignment of country’s economic policies with the stipulations of IMF loan program.
With this move, IMF has assisted Pakistan from going nonremittal , last September, by offering the loan- grant of $6.8 billion ,to be released over the period of three years. The issuance of apportioned cash, incrementally, might get suspended in case if Pakistan goes away from its commitment to overhauling financial and revenue institutions, improvising tax-collection and privatization of loss-bearing state owned enterprises (SOEs).
Taking up punitive measures, Pakistan’s taxation authorities have declared of bringing notoriety to the tax-evaders or the defaulters by publishing their names and details in a directory, for the first time. According to the authorities, one out of 200 citizens register their income tax returns, burdening the state to take foreign loans for development activities.