WASHINGTON: The International Monetary Fund (IMF) on Friday said Pakistan needs to increase its tax revenue in order to fund development amid reports of yawning budget deficit.
Earlier this year, the IMF approved to Pakistan a three-year bailout program of $6 billion. At the time, the spokesman had said this program would support Pakistan’s efforts to achieve “sustainable growth” and “improve the standards of living.” Islamabad has already received the first tranche of this loan, worth $991.4 million, from the IMF.
