The Federal Board of Revenue (FBR) has shared its plan with the International Monetary Fund (IMF) to address a major revenue shortfall as the country prepares for an upcoming IMF delegation visit.
According to Express News, FBR’s strategy includes expediting container clearances at ports, auctioning contraband goods and improving enforcement capacity.
Tax collection from under-taxed sectors and expediting court cases are also prioritized to achieve revenue targets.
For January, the FBR faces an ambitious tax target of Rs 960 billion. When adjusted for the existing shortfall of Rs 385 billion, the total collection requirement rises to Rs 1,340 billion. Officials confirmed that all necessary measures are in place to ensure compliance.
The IMF delegation is expected to review progress on these reforms and other fiscal commitments.
Pakistan’s economy remains under pressure, with revenue generation critical to meeting IMF loan conditions and stabilizing the country’s financial outlook.
IMF revises Pakistan’s GDP growth outlook for 2025 to 3%
Earlier, the International Monetary Fund (IMF) revised Pakistan’s economic outlook, downgrading its projected Gross Domestic Product (GDP) growth for 2025 to 3%, from 3.2% forecast just three months ago.
The adjustment comes amid a broader global economic assessment presented in the IMF’s “World Economic Outlook Update: Global Growth – Divergent and Uncertain.”
The IMF’s revised projections also show that Pakistan’s GDP growth will remain at 4% in 2026. However, the latest downgrade reflects ongoing economic challenges in the country, although the IMF did not provide specific reasons for the revision.
This latest revision mirrors a forecast by the Asian Development Bank (ADB) last month, which also adjusted Pakistan’s growth forecast to 3% for the fiscal year 2024-25, from 2.8% previously forecast.
Both institutions cited challenges facing Pakistan’s economy but maintained a cautiously optimistic outlook over the medium term.
a href=”https://tribune.com.pk/story/2523498/fbr-shares-plan-with-imf-to-address-revenue-shortfall”>Source link
