IMF Approves Pakistans Rs 9415bn Tax Target Mini-budget Ruled Out

[LRE-Azan]

IMF Approves Pakistans Rs 9415bn Tax Target Mini-budget Ruled Out

Following comprehensive discussions between Pakistan and the International Monetary Fund (IMF), an agreement has been reached to maintain the country's annual tax collection target at Rs 9,415 billion. This decision, a significant step in Pakistan's economic strategy, eliminates the need for a mini-budget.

The IMF has acknowledged the commitment of Pakistan's tax authorities to adhere to the annual tax target, with a notable emphasis on avoiding new taxes. Instead, the focus will be on implementing administrative measures to strengthen tax revenue.

Sources from the Federal Board of Revenue (FBR) have emphasized the pledge made to the IMF, outlining plans to expand the tax net through comprehensive documentation within the economy. This aligns with the ambitious tax targets set by the IMF.

Additionally, the FBR has confirmed the submission of a detailed plan to the IMF, outlining the strategy for achieving the Rs 9,415 billion tax collection target. The plan underscores Pakistan's commitment to meeting these goals while addressing tax evasion in the real estate sector.

Caretaker Finance Minister Dr. Shamshad Akhtar has assured the public that there will be no additional tax burdens, and the tax target will remain at Rs 9,415 billion. She emphasized the federal government's commitment to fiscal prudence in spending, with a focus on controlling the budget deficit through expense reduction.

Dr. Shamshad Akhtar expressed optimism about the ongoing discussions with the IMF, stating that they are progressing positively. She added, "The IMF has demonstrated confidence in the actions of the caretaker government, particularly in supporting the program and development expenditure for the betterment of the country.

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