ISLAMABAD: The government has accepted a major condition of the IMF, sources say that according to the condition of the IMF, the government will not establish any new special economic zone or export processing zone, nor the already established zones. will give any further privileges after the completion of their term.
This condition of the IMF will harm the government’s plan to create an export processing zone on the land of Pakistan Steel Mill, government sources said that this condition will apply to the federal and four provincial governments, however, KPK has rejected this condition. Refused to act.
This stipulation shows the IMF’s grip on the country’s economic policies, which will not only affect the country’s economic development, but also undermine efforts to bring Chinese industries into the economic zones.
It should be noted that despite fulfilling various other conditions including levying heavy taxes of 1.8 thousand billion rupees, increasing electricity prices by 51% on the condition of IMF, the government still failed to get a bailout package of 7 billion dollars from IMF. Failed.
Adviser Finance KPK Muzmal Aslam defended the rejection of the ban on establishment of Special Economic Zones, saying that expansion of industries is a provincial matter, and establishment of industrial zones is very necessary for development in a backward province like KPK. .
IMF cannot dictate to us on this matter, it should be noted that during the last financial year, the government had given Rs 7 billion incentives to Special Economic Zones.
