The International Monetary Fund (IMF) has projected a decline in the unemployment rate in Pakistan.
Following its agreement with Pakistan, the IMF released forecasts indicating that economic growth could increase to 3.2%, up from 2.4% in the previous fiscal year.
The unemployment rate is anticipated to drop from 8% to 7.5%, while inflation is expected to decrease to 9.5%, down from last year’s 23.4%.
The IMF also predicts that tax revenue will rise to 15.4% of the economy, compared to 12.6% last year. Furthermore, public debt is projected to increase from 67% to 69% of the economy.
The agreement emphasised the need for a fair tax system in Pakistan, highlighting the importance of including all sectors in the tax framework.
It also stressed the necessity for strict implementation of anti-money laundering measures, curbing losses in state-owned enterprises, and improving governance in public departments.
The IMF underscored that the reform process in Pakistan must continue rigorously, particularly in the energy sector.
The government was urged to implement reforms to reduce electricity costs and to adjust energy prices promptly while working to enhance tax revenue.
The report identified challenges such as environmental issues, corruption, and the need for reforms in Pakistan.
It called for measures to eliminate corruption in state institutions, reduce environmental damage, provide equal opportunities for business, and improve productivity across all sectors.
Source: Dunya News