Economy will continue to suffer until loan is repaid
Pakistan Economy Watch has said that IMF should alter its preferences and take a new start from Pakistan. Whole world is calling for a fundamental change in the way IMF deals with the rest of the world. The agency is frequently alleged that its conditions become a nightmare for the poor while nobility always manages their escape good, said Dr. Murtaza Mughal, President, Pakistan Economy Watch.
Same is the case in Pakistan which is the major cause of sliding popularity of the lending institution. “Targeting powerful members of society will increase revenue collection, ensure cut in unnecessary expenditure and help boost image of IMF,” he said.
IMF has a rare opportunity to press government to bring agricultural income, reality and stockbrokers and all holy cows into tax net. “Mere promises aren’t enough which have never been honoured in the past,” said Dr. Murtaza Mughal. IMF should avoid targeting masses as there in no effective safety net present in the country.
No country in the history has excelled by selling assets or bagging loans. We should not celebrate the developments as the economy will continue to suffer until loan is repaid. Dr. Mughal said we are looking to the countries for help that initially sought our help to improve their economies and infrastructure.-Pak Economy Watch
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