IMF welcomes Pakistan’s economic program to foster growth

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International Monetary Fund has welcomed Pakistan’s economic program to foster growth amid massive challenges.

Releasing details of a meeting of its Executive Board in Washington‚ the Fund noted that the federal budget represents an important step towards an efficient and equitable tax system.

It said a significant increase in the tax to GDP ratio will create room for investment and reduce the deficit.

The meeting hoped that as a result of GDP growth the general standard of living would improve.