Govt to Impose Rs. 200 Billion Taxes to Comply with IMF Conditions

The government of the country is taking a major step to overcome the ongoing economic crisis by accepting the conditions set forth by the International Monetary Fund (IMF). In an effort to revive the loan program, the government has prepared two draft ordinances that propose the imposition of 200 billion rupees in new taxes.

An official from the Federal Board of Revenue (FBR) has stated that the country's top tax machinery has created these two ordinances. One ordinance would impose 100 billion rupee taxes, while the other would impose a 100 billion rupee flood levy on imports. These measures are intended to increase the government's revenue, especially during a time of continuous devaluation of the rupee against the US dollar.

In addition to these two ordinances, the government also plans to increase the withholding tax rates and regulatory duty on luxury items. These changes will further contribute to generating more revenue for the government. The collected flood levy will be used to address the shortfall in the petroleum development levy (PDL).

In conclusion, the government's acceptance of the IMF's conditions and the introduction of these new taxes is a bold step towards overcoming the country's economic crisis. These measures will not only provide much-needed financial support to the government, but also help revive the loan program and bring stability to the economy.