WORLD
The stalemate in talks between IMF and Pakistan was seen as a blow to the government of Prime Minister Shahbaz Sharif, who is struggling to avoid a default amid a worsening economic crisis and a surge in militant violence.
Cash-strapped Pakistan will impose new taxes of Rs 170 billion this month in a bid for a massive bailout, officials and analysts said Monday, even as they warned the new taxes could accelerate the country's spiraling inflation.
The dire outlook from economists and political analysts comes after the International Monetary Fund (IMF) delayed the release of a crucial USD 1.1 billion portion of a 2019 deal worth USD 6 billion, on hold since December over Pakistan's failure to meet the terms. The latest round of the talks between Pakistan and the IMF concluded Friday with the fund recommending steps including imposing new taxes.
"The imposition of more taxes means tough days are ahead for the majority of the people in Pakistan who are already facing higher food and energy costs, but there is no other way out if Pakistan needs the IMF loans, and Pakistan desperately needs it," said Ehtisham-ul-Haq, a veteran economist.
The stalemate in talks between IMF and Pakistan was seen as a blow to the government of Prime Minister Shahbaz Sharif, who is struggling to avoid a default amid a worsening economic crisis and a surge in militant violence. Pakistan already is struggling with recovery from record-breaking floods, which killed 1,739 people in the summer of 2022 and destroyed 2 million homes.
Milk and Flour prices in Pakistan are skyrocketing
Milk and flour are included in the basic food item list. There is a continuous crisis regarding milk and flour in Pakistan. Atta or flour is being sold at Rs 120 per kg, while milk is being sold at Rs 110 per litre. At the same time, pulses are also seen touching the figure of 200.
Belongings and Price Per Kg/Litre
Flour: 120
Rice: 240
Moong: 155-172
Sugar: 90
Chicken: 780
Milk: 110-160
Cooking Oil: 480-490
Lemon: 100
Apple: 110-320
Ghee: 1800-2500
Mutton: 1100
Curd: 115
Green Tea: 1100
Tomato: 40-60
Petrol: 298
The government insists that it will impose new taxes in such a way that poor people are not affected. The new taxes will be imposed on those who can afford to pay additional taxes to save the economy, the government said.
Russia plans to boost birth rate with 'Ministry of Sex', here's how
Jharkhand HC issues notice to MS Dhoni in business deal case, asks him to...
IND vs SA, 3rd T20I Dream11 prediction: Fantasy cricket tips for India vs South Africa match
Meet IAS officer, aka 'Collector Bro', who cracked UPSC exam in 2007, now suspended due to...
Here’s why Chunky Panday wouldn’t stay in Shah Rukh Khan’s house in London
Yash's Toxic in trouble? FIR filed against producers of KGF star's upcoming actioner for illegal...
Meet Dr Priti Challa, Kangana Ranaut film director Krish Jagarlamudi's second wife, she leads...
Yaariyan actor Himansh Kohli ties the knot with mystery girl in Delhi temple, first wedding pics out
‘Sometimes I wish I was more tough, more thick-skinned,’ says Aishwarya Rai in viral video
KL Rahul sweats hard in Perth nets ahead of BGT series, WATCH video here
Shahid Kapoor, wife Mira Kapoor rent out their Rs 580000000 luxury Mumbai apartment for Rs...
South Korean actor Song Jae-rim dies at 39 in Seoul apartment
Viral video: Thar SUV gets stuck on railway track after man tries to shoot reel, watch here
Elon Musk's new X post claims Putin must not be blamed for Russia-Ukraine war, instead names…
Fabulous Lives vs Bollywood Wives fame Shalini Passi reveals 'Mom used chilli powder in my...'
My experiences with dating apps
Zomato CEO Deepinder Goyal reveals how company got its name, says 'we wanted…'
Key Differences Between the Indian Stock Market and Global Indices
Stock prices vs company valuation: Is your stock worth it?
Navjot Singh Sidhu is back on Kapil Sharma's show after five years, but there's a twist
Mukesh Ambani set to invest Rs 65000 crore in THIS Indian state, it will be Reliance's biggest...
Mohammed Shami to return to competitive cricket; star pacer set to play for…
Makoons World School brings a new approach to K-12 education across India
Pakistan Cricket looking to take BIG step on Champions Trophy issue, planning to...
Did Isha Ambani lend Neetu Kapoor her Navratna necklace? Reddit users react
J-K: Gunfight underway between security forces and terrorists in Bandipora
Viral video shows women as 'live mannequins' in mall, sparks fury; WATCH
As Vistara bids goodbye, Air India-Vistara's first flight takes off from Mumbai to...
GATE 2025 Schedule: Exams to begin from February 1; Check full timetable here
CBSE announces BIG changes in Class 10,12 board exams 2025, know details here
Veteran Bengali actor Manoj Mitra dies at 86
Isha Ambani graces Diwali party as she walks with her twins, husband, WATCH
Donald Trump plans to pick Marco Rubio as US Secretary of State: Report
Vadodara IOCL refinery fire: Death toll rises to 2; probe underway
Shah Rukh Khan death threat: Mumbai police arrest accused from Chhattisgarh's Raipur
Delhi reports record high chikungunya, malaria cases in 5 years
Japan's Nara deer's polite bow to Indian woman leaves netizens in awe, WATCH
Meet MS Dhoni’s sister Jayanti Gupta who works as teacher, is married CSK star's...
Pakistani TikTok star Minhal Malik's popularity soars in India, sees unprecedented 100-time surge
Seo Hyun Jin dramatically apologises to BTS ARMY, says 'I know a lot of...'
Amid threats of violent protests, Brampton Triveni temple cancels event
Mike Waltz, India caucus head, named Donald Trump's National Security Advisor
Mukesh Khanna returns as Shaktimaan, 90s kids dance with joy
This Indian man owns a train, he's not Mukesh Ambani, Gautam Adani, has net worth of...
SSC CHSL Exam 2024 admit cards to be released today at ssc.gov.in; get direct link here
‘He will play his last game in…’: CSK CEO provides massive update on MS Dhoni’s IPL future