- Home
- Pakistan
- News
- Impossible to achieve IMF's targets: President Pakistan Businessmen and Intellectuals Forum (PBIF)
Impossible To Achieve IMF's Targets: President Pakistan Businessmen And Intellectuals Forum (PBIF)
Faizan Hashmi Published August 02, 2019 | 03:56 PM
President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said IMF has given impossible targets to Pakistan without properly diagnosing economic ills and giving implementable solutions
Islamabad (UrduPoint / Pakistan Point News - 02nd August, 2019) President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Friday said IMF has given impossible targets to Pakistan without properly diagnosing economic ills and giving implementable solutions.He said that quarterly review of IMF can result in another crisis if targets were not achieved.Talking to the business community, the veteran business leader said that Pakistan has repeatedly taken loans from IMF but the economy could not be stabilized which indicate that IMF recipe is designed to avert crisis only.He said that IMF conditions make life difficult for masses, increase divide between rich and poor, and choke growth while the recent programme will push around eight million Pakistanis into poverty.
The former minister noted that the economy grew by five percent during the last few years but taxes were increased by 20 percent.
The current growth rate has been estimated to be 2.4 percent while taxes have been increased by 35 percent which is impossible to achieve.He said that the IMF's targets have resulted in widespread demonstrations by the trading community while the industrialists are also restless.Mian Zahid Hussain said that new tax measures may help the government fetch an additional Rs1.8 trillion but it will not benefit masses as one trillion rupees will be diverted to repay loans.
Recent Stories
Pak Vs NZ T20I: Orphaned children extended special invitation to watch match
Finance Minister lauds UNDP’s unwavering support during floods
President Raisi leaves for Iran from Karachi
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 24 April 2024
Today Gold Rate in Pakistan 24 April 2024
Punjab CM inaugurates Pakistan’s first Virtual Women Police Station
Dutch model Donny Roelvink embraces Islam
Experts raise concerns over introduction of 10-stick packs
Iranian president arrives in Karachi
Law Minister expresses Govt's resolve to address issue of missing persons
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
More Stories From Pakistan
-
Six killed, several injured in celebratory firing in Lakki Marwat
7 minutes ago -
Six injured after speeding car runs over homeless people in Karachi
7 minutes ago -
Seven power pilferers netted
27 minutes ago -
PM Shehbaz visits Mazar-e-Quaid, pays homage to father of nation
27 minutes ago -
Finance Minister lauds UNDP’s unwavering support during floods
35 minutes ago -
Man kills wife over domestic dispute
37 minutes ago
-
Man dies in road mishap
37 minutes ago -
In-charge Federal Ombudsman's holds open court
47 minutes ago -
Leakage of papers during SSC Exam in KP arise more questions
47 minutes ago -
Body to probe leakage of SSC Annual-I paper of BISE Malakand
1 hour ago -
Int’l Day of Multilateralism and Diplomacy for Peace observed
1 hour ago -
People urged to resist BJP’s policies altering IIOJK’s demographic composition
1 hour ago