ISLAMABAD – The government’s pledge to slash energy tariffs was met with a harsh jolt when the global lender IMF rejected Islamabad’s plan to reduce sales tax.
The Ministry of Energy has proposed to the government a reduction in sales tax. And the administration submitted a request to the IMF, which denied it.
The IMF stated that its credit programme does not allow for exemption from additional levies. The IMF stated that lowering the sales tax will make it impossible to meet revenue collection objectives.
It should be emphasized that a consumer is charged GST twice on their power bills: initially 18 percent tax is paid on the overall amount of the bill, and then sales tax is assessed on fuel cost adjustments.
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