Restrictions on buying cars, property and stocks were shelved despite Pakistan’s commitment to the IMF under ongoing reform measures.
Image: Profit by Pakistan Today
Pakistan’s federal cabinet has rejected a proposal that would have barred certain ineligible individuals from purchasing luxury vehicles, property and stocks, despite the measure being linked to commitments made under the country’s agreement with the International Monetary Fund (IMF).
The proposal sought to impose restrictions on high-value purchases by individuals who were not considered eligible under specified financial and tax criteria. Officials had argued that the move could help broaden the tax base and improve documentation of the economy.
According to government sources, cabinet members raised concerns about the practical implementation of the restrictions and their potential impact on economic activity. As a result, the proposed curbs on cars, real estate transactions and stock market investments were set aside.
The decision is significant because Pakistan has committed to a series of fiscal and structural reforms under its IMF programme aimed at increasing revenue collection and reducing economic distortions. Measures targeting undocumented wealth and non-filers have been a recurring part of discussions with the Fund.
While the cabinet has shelved the proposed purchase restrictions for now, officials say the government remains committed to meeting its IMF obligations through alternative revenue-enhancing and documentation measures. Further consultations on tax enforcement and compliance reforms are expected in the coming weeks.
