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Key Party Rejoins Pakistan's Coalition
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Fewer than 2% of Pakistanis pay income taxes and some of the powerful landed elite and industrialists pay little or no income taxes. The result is that the government is short of funds to finance needed healthcare and education. This leaves more of these tasks for the mosques and international donors such as the Saudis, and with it brings support for militant groups. Pakistan is dependent on IMF help for its financing needs and the IMF has offered $11 billion in loans. $7.6 billion of this was transferred. But further loans were held back by the IMF since May 2010 till Pakistan made economic reforms in taxation and other areas such as energy subsidies. The US supports this effort. The government's recent effort to raise fuel prices puts the burden on the poorer sections of society. The result was deeply unpopular and the government was forced to withdraw the price increases. This was the only way to maintain the support of coalition parties in the government
Abysmal tax collection in Pakistan and the lack of economic development.
07/18/2010
Tax collection in Pakistan is one of the poorest in the world. This widens the quality of life for the vast majority of people and an afffluent few who run business interests and have agricultural holdings. Infrastructure and essential services such as power and water, roads and health care, all suffer, as a result.
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Key Party Rejoins Pakistan's Coalition
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Party pulls out of Pakistan's ruling coalition, threatening government
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Key Party Rejoins Pakistan's Coalition
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The IMF and Pakistan
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Grouped Articles
Pakistan Bank Chief Quits as Economy Stalls
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IMF Chides Pakistan on Budget Gap
Wall Street Journal 12/30/2010
Prolonged Turmoil Could Create Pakistan Banking Crisis
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Key Party Rejoins Pakistan's Coalition
New York Times 01/07/2011
Disappointed in Pakistan, IMF Ends Loan Program
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Pakistan to Ease India Trade Limits
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