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IMF loan may come with a political cost for Pakistan PM Imran Khan

We already know about the austerity measures, the auctioning of government vehicles and buffaloes, in order to save government spending

Imran Khan
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Before knocking on the IMF’s door, Pakistan PM Imran Khan in a futile effort had sought help from China and Saudi Arabia. Photo: Reuters

Aditi Phadnis
When the Pakistan Tehreek-e-Insaf government came to power in July, Finance Minister Asad Umar announced he would table a mini-budget to stabilise Pakistan’s faltering economy by creating political consensus around tough economic steps and imposing austerity measures.

Umar presented a reworked budget 2018-19 to parliament on September 18. The amended budget imposed heavy taxes on around 5,000 items of luxury spending (like doubling the excise duty on imported cars with engine capacity of 1800 cc from 10 per cent to 20 per cent and hiking duty on imported upper-end mobile phones from 12 per cent to 17.5 per cent) and doubled

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