IMF Imposes New Conditions on Pakistan

May 28, 2001 - 0:0
TEHRAN The International Monetary Fund (IMF) has imposed new conditions for repayment of the third part of a loan to Pakistan worth $130 million.

Official sources in Pakistan announced on Saturday that based on the new IMF conditions for repayment of the loan, this country must increase revenues by raising tax rates.

A Pakistani economic expert said, "It seems that the Pakistani agricultural sector is the target of the International Monetary Fund these days. Because Pakistan has agreed to impose taxes on chemical fertilizers and other essential agricultural materials until September.

But according to the IMF's new conditions, thereafter Pakistan must impose taxes of up to 15 percent on edible oils and imported products."

The Pakistan economic sources stressed that based on the new IMF conditions, Pakistan must impose taxes on bank savings.

Meanwhile, some Pakistani social organizations demonstrated against the IMF policies in Islamabad on Saturday, noting that the conditions are interference in the economic affairs of this country and threaten Pakistan's national sovereignty.