Interest rate should be increased to decline inflation: IMF
ISLAMABAD: International Monetary Fund (IMF) recommended government of Pakistan to increase interest rate and lower its loans to control inflation, ARY News reported.
Speaking to media IMF mission chief Jeffrey Franks said that increasing inflation is not concern with the IMF’s programme.
He said Pakistan takes loan to improve financial and economical position of the country but don’t collect tax from members of parliament.
Franks suggested parliament members to pay proper tax. The IMF chief appeared dissatisfied with the performance of the Federal Board of Revenue (FBR). “There has been some progress in the annual growth in revenue collection but it is far from adequate and more needs to be done to improve collection and tax administration,” said Franks.
Jeffrey Franks emphasized to expand tax net and to raise income.