The International Monetary Fund (IMF) urged the Pakistan’s Special Investment Facilitation Council (SIFC) to refrain from granting tax exemptions to international investment projects, including the Chaghi-Gwadar railway track project worth $2 billion.
The IMF’s stance comes as Pakistan seeks to secure the next $1 billion tranche under the $7 billion Extended Fund Facility (EFF). According to sources, the IMF delegation maintained that tax exemptions for international investments would hinder the country’s revenue generation.
According to sources, the government had requested Gulf countries to invest in the Chaghi-Gwadar railway track project, but the IMF has refused to grant tax exemptions to the SIFC for international investments. The SIFC has been providing a platform for investment and facilitating the transportation of minerals from Reko Diq to Gwadar through a new railway line.
