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IMF Urges Pakistan to End Subsidies for Exporters
The International Monetary Fund (IMF) has directed Pakistan to end subsidies for exporters or link them with the actual exports after confirmation from the State Bank of Pakistan (SBP).
The IMF held discussions with Ministry of Commerce (MoC) officials on subsidies to exporters and reducing tariffs on imports.
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The IMF is pressing Pakistan to ease restrictions on imports and open imports for all kinds of items.
Pakistan’s Ministry of Commerce officials believe local industry should be protected, and ending the ban on imports would decrease foreign reserves.
Despite concerns, IMF officials insist on ending the import ban, and the IMF and Finance Division have agreed to reduce tariffs on imports in the upcoming budget.
