IMF called for increasing power rates and imposing more taxes, says Muneer. PHOTO: FILE
The economic situation has become even more alarming as foreign exchange reserves are depleting rapidly and have hit a lowest level of $6 billion, Patron In-Chief of the Korangi Association of Trade and Industry SM Muneer has said.
Addressing a dinner reception hosted by Shujaat Ali Beg and Khushbakht Shujaat in honour of caretaker Minister Mian Zahid Hussain and others at a local hotel Sunday night, he said that even the International Monetary Fund has refused to grant any further loan to the negotiating team of Pakistan and instead called for increasing power rates and imposing more taxes.
He also criticised the fact that despite severe gas shortages, the outgoing government awarded as many as 1,480 CNG stations licences.
Published in The Express Tribune, April 23rd, 2013.
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