Islamabad: In virtual talks with Pakistan’s Federal Board of Revenue (FBR), the International Monetary Fund (IMF) has demanded a mini-budget due to the country’s failure to meet tax targets. The FBR’s request to revise the targets was rejected by the IMF, according to sources.
The IMF’s demand for a mini-budget comes amid concerns over a projected shortfall, estimated to require additional taxation of around Rs 500 billion next month. This shortfall could also complicate the release of the next loan installment, sources warned.
Prime Minister has reportedly asked the FBR Chairman for a performance report, while significant reshuffling has taken place within the FBR. Four board members and 18 senior officers have been replaced in an effort to address the performance issues.
Leave a comment