Tax the rich! Kristalina Georgieva urges to collect taxes from wealthy & protect poor

Amid soaring inflation in Pakistan, Managing Director of the International Monetary Fund (IMF) – Kristalina Georgieva urged the government to protect the poor and collect more taxes from the wealthy.

Georgieva, while talking to a private news channel after meeting with Interim PM Anwaarul Haq Kakar, said that IMF’s demand aligns with what Pakistan would like to witness in future. She added that global money lender is asking to please collect more taxes from the wealthy and protect the poor people of Pakistan.

The IMF Managing Director later Tweeted that she had a good meeting with the Pakistani premier regarding economic prospects. She stated that both agreed on the vital need for strong policies to ensure stability, foster sustainable, inclusive growth, prioritise revenue collection, and protection for the most vulnerable in Pakistan.

Interim PM Kakar also posted on X about the meeting. He stated that a constructive dialogue was held with the IMF director Kristalina Georgieva. Kakar added that they talked about extending mutual commitment towards economic stability and growth in Pakistan.

The year-on-year inflation in Pakistan (for August) reached 27.4pc. The entire country also witnessed a series of protests against exorbitant electricity bills. Despite promises from the rattled government of relief for the public, no progress was recorded as IMF rejected the plan for subsidy on electricity consumption.