IMF reports Pakistan’s revenue nearly doubled in two years

The International Monetary Fund (IMF) says that Pakistan’s revenue has nearly doubled over the past two years; however, economic experts have contradicted this claim, as reported by national media on Sunday. 

According to IMF officials, Pakistan’s revenue has increased from 9.6 trillion rupees to 18 trillion rupees. The Ministry of Finance says that this increase in revenue has been made possible through tax collections, new taxes, and support from the central bank.

On the other hand, according to a report, economic experts believe that the revenue increase is artificial. They say there has been no significant change in the tax net over the past two years, but the tax rate has increased significantly, placing the burden of taxes on the salaried class and the industrial sector.

According to experts, the sales tax rate has been raised from 12% to 15%, and then to 18%. At present, there is a current account surplus, but the value of the rupee is being devalued. While the value of the US dollar is declining globally, it is increasing in Pakistan.

It is worth noting that although the country’s economic indicators have shown rapid positive changes over the past two years, a large number of experts consider these changes to be artificial.