IMF allows tax concessions to businesses affected by coronavirus pandemic

Islamabad: Amid the ongoing novel coronavirus pandemic, the International Monetary Fund (IMF) has allowed the Pakistani government to provide tax concessions to businesses affected by the outbreak, a news source reported.

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To this effect, Advisor to the Prime Minister (PM) on Finance Dr Abdul Hafeez Shaikh has stated that the IMF recently allowed the federal executive to provide tax concessions to industries and individuals affected by the novel coronavirus pandemic.

On the other hand, the PM’s advisor said that they were not planning to renegotiate the USD 6 billion package with the international institution. He added that in case of need, the government could ask the IMF for an additional support package.

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He said that the Asian Development Bank (ADB) and the World Bank (WB) had agreed to provide concessional loans for fighting the increase in novel coronavirus cases in the country. Shaikh further revealed that the IMF had already agreed to relax the budget deficit ceiling to the extent of the human coronavirus-related spending in Pakistan.

IMF allows tax concessions to businesses affected by coronavirus pandemic

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