Pakistan Finance Minister Miftah Ismail said on Friday the government would raise taxes on the rich and ban government officials from buying new cars, amid pressure to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money.
The nation of 220 million people is facing a balance of payments crisis, with foreign reserves falling below $10 billion, hardly enough for 45 days of imports, and a widening current account and ballooning fiscal deficits.
