Pakistan is shaken by the conditions imposed by the IMF..!?

Sowmiya Sriram
Pakistan is shaken by the conditions imposed by the IMF..!?

The international Monetary Fund (IMF) has imposed a new condition on pakistan, which is stuck in an economic crisis. This has created a possibility of trouble in the relationship between china and Pakistan. In order to overcome its economic crisis, pakistan is taking various measures like getting loans from international organizations on the one hand and attracting investments on the other hand. Meanwhile, pakistan has said that it should not provide special assistance including tax concessions to investment countries. That is, it has been said that industrial parks should not be set up with concessions to specific countries through special agreements. china is investing heavily in pakistan through this practice. Now the IMF has imposed such a condition which has created a problem for Pakistan.
In a report sent by the international Monetary Fund to pakistan on the 10th, the existing Special Economic Zones and the new ones will be set up. pakistan has said that it should stop providing tax incentives and subsidies to companies investing in economic zones. According to the IMF, this will create a level playing field for all countries to invest. Recently the prime minister of pakistan requested Chinese companies to set up factories and invest in Pakistan. It was already announced that 9 Special Economic Zones will be constructed under the Economic Corridor between china and Pakistan. All those works are currently in various stages. It is in this situation that the IMF has given such a condition to Pakistan. advertisement "Pakistan is in a severe economic crisis.. 74% of the people are struggling without money even for daily expenses!" Natham Porter, head of the IMF program for pakistan, said that pakistan should create an environment where all countries can come and start business easily and stop giving concessions to specific countries. pakistan recently received a $7 billion loan from the IMF. On the one hand, it has invited about 100 Chinese companies to invest in their industrial parks.
For more interesting updates click and follow Indiaherald WhatsApp channel

Find Out More:

Related Articles: