Pakistan government introduces bill to raise Rs 170 billion in taxes

The cash-strapped Pakistan government on Wednesday introduced a money bill in parliament to raise Rs 170 billion in taxes by June this year as part of conditions by the IMF to get the next tranche of an already agreed loan.

Finance Minister Ishaq Dar presented the Finance (Supplementary) Bill, 2023, in the National Assembly -- the lower house -- empowered to legislate on money matters.

Pakistan and IMF officials held 10 days of marathon talks in Islamabad, from January 31 to February 9, but could not reach a deal as the fund demanded prior actions before signing any agreement to release USD 1.1 billion out of the USD 7 billion deal agreed in 2019.

Speaking in the house after introducing the bill, Dar said the government was aware of the hardships of common people and tried its best to not further burden them through new taxes.