IMF raises serious concerns over budget for coming fiscal year
Budget misses opportunity to make taxation broadly based in a progressive manner, long list of new tax expenditures has further reduced transparency of tax system and resources required for exceptional income support programs and development spending, Esther Perez
International Financial Institution (IFI) has raised serious concerns over the budget for the next financial year.
In a statement, IMF Country Representative Esther Perez said that the draft budget for fiscal year 2024 misses an opportunity to broaden the tax base in a more progressive manner.
In a statement issued to a select group of journalists, Esther Perez further said that the long list of new tax expenditures has further reduced the transparency of the tax system and the resources required for the Bizarre Income Support Program (BISP) and development expenditure.
Esther Perez added that the new tax amnesty is against the IMF’s conditionality and governance agenda and sets a harmful precedent. He added that measures to address the liquidity pressure of the energy sector are part of the broader budget strategy. can be added together.
He said that the team of the fund is ready to work with the government before the approval of the budget.
