ISLAMABAD - World Bank approved two mega projects for Pakistan worth Millions of dollars.
The World Bank has approved a package of $518 million for two projects in support of “Pakistan’s ambitious efforts to raise revenue and reduce compliance cost with a goal of providing better services to the people”, a private media outlet reported link, quoting a statement issued by the body on Friday.
“The $400 million Pakistan Raises Revenue Project will support the Federal Board of Revenue’s (FBR) focus to create a sustainable increase in Pakistan’s domestic tax revenue.
The project will assist in simplifying the tax regime and strengthening tax and customs administration,” the statement said.
“It will also support the FBR with technology and digital infrastructure and technical skills.
This will enable more effective use of taxpayer information and more targeted compliance. The government has set improving tax revenue with low compliance costs as a high priority.”