Inefficient by design (opens original article in a new tab)

Pakistan's repeated IMF programmes highlight persistent economic issues, with the federal government relying on the petroleum levy and taxing the salaried class while the banking sector benefits from high profits on government securities.

• Pakistan has entered IMF programmes 24 times with recurring issues of narrow tax base and weak institutions.
• The petroleum levy is a major revenue source for the federal government, not shared with provinces, raising costs for all citizens.
• Salaried class faces high withholding tax while the banking sector earns record profits on government securities.