ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) government is seeking $400million or Rs56 billion loan from the World Bank (WB).

The loan would be used for a risky venture of fixing the country’s ailingtax system amid apprehensions that foreign-funded reforms package in thepast had not yielded desired results.

The Federal Board of Revenue (FBR) and the WB are negotiating the $400million that attaches conditions like setting up a constitutional body toresolve tax disputes between the Centre and the provinces, according to thegovernment sources.

It also seeks change in tax structure for the agriculture sector, which isa contentious issue due to strong influence of landlords on economicpolicymaking.