A decision to include a carbon tax proposal in Pakistan's recent budget was entirely the decision of the government and not imposed by the International Monetary Fund (IMF), it has been claimed.
According to Paul Ross, the IMF's resident chief, Pakistan's government has decided to press ahead with the implementation of the tax on petroleum products in a bid to increase revenues and not as part of the IMF's existing standby arrangement.
Mr Ross said that instead, the IMF would be pushing Pakistan to move towards the implementation of a Value-Added Tax regime from 2010.
“Pakistan’s economy is facing challenges in terms of materializing the pledges made by the Friends of Democratic Pakistan (FoDP) during the Tokyo conference for the fiscal year 2009-10,” he explained, adding:
“The key challenge for Pakistan is to reduce vulnerability to external shocks, which increased manifold owing to low revenue generation.”
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