The International Monetary Fund (IMF) and the Pakistan Govt has an agreement on the implementation of the Reformed General Sales Tax (RGST) in the country, according to the Sources.
Sources revealed that the government has succumbed under pressure from the IMF, and will implement this reformed tax system from October 1, this year.
This will of course push out a wave of protests from different pockets of the country, as already there have been talks about the increase in the Special Excise Duty (SED) and the Flood Surcharge Tax.
The rate at which this RGST will be implemented will be decided later. Sources from the Finance Ministry have also said that the government has no other choice but to implement this tax reform, as this is one of the tough conditions that the IMF has placed on Pakistan, in order to acquire the rest of the $3.1 billion loan package.
