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Pakistan Economic Crisis: Last attempt to deal with IMF, Pakistan will raise billions of dollars from new tax

  ISLAMABAD: The Pakistan government aims to generate an additional 215 billion Pakistani rupees (Rs) in taxes in the next fiscal year and cut spending by 85 billion to seal the International Monetary Fund (IMF) deal. No reduction in salaries and pensions According to Dawn reports, the government has made changes in line with the measures prescribed by the IMF in a last ditch effort to secure crucial funding. Finance Minister Ishaq Dar while disclosing the change on Saturday told the House, Pakistan and the IMF held detailed talks over the past three days in a last-ditch effort to complete the pending review, but the government has not cut the federal development budget or the salaries and pensions of government employees. This will revise the government's revenue collection target to Rs 9.415 trillion and total expenditure to Rs 14.48 trillion. The government lifted import restrictions According to the Dawn report, the share of states will increase from Rs 5.28 trillion to Rs 5.39 trillion. Dar said the government has also lifted import restrictions imposed in December to narrow the current account deficit, one of the major concerns for the IMF to release funds.