Home » Breaking News, Business » IMF told that Pak loans cannot be written off

IMF told that Pak loans cannot be written off

International Monitory Fund

Pakistan, Business News – Head of the International Monitory Fund (IMF) mission in Pakistan, Jeffrey Frank said that the IMF cannot write off or restructre Pakistan’s loan.

While speaking to the media, Frank further said that Pakistan has not formally sought a new program, adding that if they did want to seek a new program then their economic strategy must radically change as losses of government institutions had drowned the current economic strategy.

Frank told the media that Pakistan was in need of billions of dollars in revenue in expenditure as it was suffering from a current deficit of 16.24 trillion, adding that Pakistan’s foreign exchange reserves had diminished.

The IMF mission chief also said that taxation on agriculture, retail and sales should be made more effective and tax relaxations and concessions should be done away with.

He further said that Pakistan’s major issue is power deficiency and power theft was behind the increasing deficit. Agencies

Like this story?

More News on EPakistanNews.com

Pakistan News update 24 hours, latest breaking news updates in Pakistan, Pak news, Pakistan Urdu columns, latest news pakistan, political news updates, E Pakistan Newspaper, Karachi News, Karachi Updates, Lahore news, Islamabad news, Multan news and more breaking news, E Pakistan News brings Latest Pakistan News, headline news, pk politics, News online, sports, politics news from Pakistan.

Home - Disclaimer - Follow us on Twitter - Like us on Facebook

Copyright © 2010-2015, E Pakistan News, All rights are reserved.
This material may not be published, broadcast, rewritten or redistributed without permission are strongly prohibited.
if you need any further assistance please contact us via email epn@epakistannews.com