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Pakistan to levy extra one-time 10% tax on large scale industry ahead of IMF deal

ISLAMABAD, June 24 (Reuters) - Pakistan will impose an extra one-time 10% tax on large scale industry for one year ahead of a deal to be finalised with the International Monetary Fund (IMF), Finance Minister Miftah Ismail said on Friday.

The announcement has come ahead of a crucial deal to be struck with the IMF for Pakistan which is facing a balance of payment crisis.

Ismail said a revised budget will raise the revenue collection target to 7.4 trillion rupees after the tax imposition. (Reporting by Asif Shahzad; Editing by Toby Chopra)