IMF asks govt to end tax breaks for agri, textile sectors
• Says Pakistan’s growth hindered by favouritism to these two segments
• Identifies textile sector as having highest tax gap relative to its value added
• Recommends simplifying trade policies, avoiding tariffs aimed at industrial protection
ISLAMABAD: The International Monetary Fund (IMF) has asked Pakistan to swiftly end preferential treatment, tax exemptions and other protections for the agriculture and textile sectors, which it says have stifled the country’s growth potential for decades.
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