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IMF bailout bid: Pakistan raises tax on natural gas from 16% to 112%

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Cash-strapped Pakistan on Tuesday sharply increased taxes on natural gas to comply with a long-stalled financial bailout, and both industrial and everyday consumers were expected to feel the pain.

The government’s bid to revive a $6 billion bailout from the International Monetary Fund led it to hike taxes on natural gas for domestic and industrial consumers from 16 per cent to 112 per cent, shocking many Pakistanis who already are struggling. The government is also preparing to impose additional taxes, slash subsidies on electricity, and more to meet IMF terms. The country will also reverse a long-held strategy to import more

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First Published: Feb 14 2023 | 11:04 PM IST

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