Pakistan's finance minister sticks to plans for new taxes on retail sector

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ISLAMABAD :Pakistan's finance minister vowed on Tuesday to persevere with plans for new taxes on the retail sector despite strike threats, as a step towards winning approval from the board of the International Monetary Fund (IMF) for a $7-billion loan.

This is not going to be taken back," Finance Minister Muhammad Aurangzeb said in a televised speech that urged wholesalers, distributors and retailers to contribute to the economy.

The Fund's board approval hinges on confirmation of financing assurances for Pakistan from development and bilateral partners.

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Category: EconomyBusiness

Markets: SingaporePakistanSaudi Arabia

Topics: Strike Taxes Government Finance Fund Approval Minister Last Pakistan Sector Board

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-03 @ 17:36:32 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 478 words

Reading Time: 3 minutes read

Sentences: 18 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22348884

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