Pakistan to Complete IMF Plan But Won’t Burden People With Taxes

The government has met all conditions of the IMF including the tax on fuel, known as the petroleum development levy, finance minister Ishaq Dar says at a stock exchange ceremony.

• Gov. trying not to put more burden on the people with more taxes and by raising local fuel costs every 15 days
• There is no chance of default, foreign reserves will be in better position by FY-end
• Dar says key interest rate is high
• Note: Pakistan’s foreign exchange reserves have depleted to about $6 billion, or just about a month of imports
• READ: Pakistan PM Says No Option But to ...