IMF’s Georgieva tells Pakistan to tax the rich, protect the poor

The IMF bailout is a double-edged sword for Pakistan. It saved the country from default, but it also imposed harsh conditions. The country faces a dilemma: how to comply with the Fund without alienating the public, who suffer from inflation and energy prices. The govt must balance fiscal discipline with public welfare. IMF chief recommends taxing the rich and shielding the poor.

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President Alvi suggests Nov. 6 election date, but it may not be up to him

A constitutional crisis is looming over the country’s general election date, as President Alvi and the election commission disagree on who has the power to decide it. The president has suggested Nov. 6 as the date, citing a provision that requires him to appoint a date within 90 days of dissolving the parliament. However, the election commission claims that it is in charge of setting the date and running the polls, and that it requires more time to redraw the constituencies, based on a new census. The president’s letter has caused confusion and increased the uncertainty over the country’s democratic transition.

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Minister Ahktar says IMF deal leaves Pakistan with no room to ease electricity bills

By Staff Reporter

ISLAMABAD: Interim Finance Minister Shamshad Akhtar warned on Wednesday that the country’s economic situation was worse than expected and the caretaker government had no room to provide subsidies as it faced rising inflation and public anger over soaring electricity bills.

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