Take steps to function as a country: IMF tells cash-starved Pakistan

Updated: Feb 20 2023 10:56AM

Islamabad, Feb 20 (PTI) Cash-strapped Pakistan must take steps to ensure that its high earners pay taxes and only the poor get the subsidies if it wants to function as a country, the International Mone­­tary Fund has said, amid looming fears of a default.

In an interview with the German state broadcaster Deutsche Welle on the sidelines of the Munich Security Conference in Germany on Friday, IMF chief Kristalina Georgieva said Pakistan needs to take strong measures to avoid getting into a "dangerous place" where its debt needs to be restructured.

She said the IMF was very clear that it wanted the poor people of Pakistan to be protected, the Dawn newspaper reported, “It shouldn’t be that the wealthy benefit from subsidies. It should be the poor [who] benefit from them," she said.