IMF doesn’t support amnesty schemes, says country representative- Samaa Digital

 

The IMF does not support the Pakistan government’s amnesty schemes.

The IMF’s Resident Representative to Pakistan Teresa Daban Sanchez told SAMAA TV that the fund doesn’t support amnesty schemes in general because they discourage tax payers.

“Cross country experience shows that such schemes usually have huge costs such as undermining taxpayers’ moral and sense of fairness,” Teresa said in a conversation with SAMAA TV.

Amnesty schemes are only beneficial for a short time, she said. We have noted that amnesty schemes actually end up costing countries a lot, she said.

Instead, the IMF wants Pakistan to develop good policies.

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“We do not give ‘permission’ to countries. We only advise them to implement ‘good’ policies and support them on this endeavour,” she added.

The IMF programme Pakistan entered is going to start on July 1. As part of the programme, it will be giving the country $6 billion but Pakistan needs to make a lot of changes. Part of these changes include higher electricity and gas rates and other economic reforms.

Pakistan authorities have already fulfilled prior actions before entering the loan. These include exchange rate adjustment, increase in electricity and gas prices and introducing tough revenue measures in the budget 2019-2020.

The PTI government is likely to extend the deadline of the assets declaration scheme, which is going to expire on June 30. Prime Minister Imran Khan also hinted the possible extension in the scheme saying that many people are expressing their willingness to come under the tax net, but are complaining about the shortage of time.

FBR has already warned the tax evaders to show their hidden assets and avail the amnesty scheme otherwise their assets will be seized and they will be jailed for seven years.

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