The scheduled discussions for the release of the second installment of theInternational Monetary Fund (IMF) bailout package are anticipated to takeplace during the final week of October. In an online gathering betweenofficials from the Federal Board of Revenue (FBR) and the IMF, Pakistanfirmly asserted its stance against imposing any new taxes, reassuring theglobal lender that it aims to achieve its tax recovery targets withoutresorting to additional taxation measures.
According to insider sources, the IMF has expressed contentment with theperformance of the FBR, and a comprehensive report on the economicperformance of the nation for the initial week of October will be sharedwith the IMF.
Furthermore, sources indicate that taxation data for the first quarter ofthe current fiscal year, spanning from July to September, is poised to bepresented to the IMF in the upcoming week. In an effort to combat taxevasion, Pakistan has also divulged its strategy for cracking down on taxtheft to the IMF.
Of noteworthy importance is the revelation that due to mounting pressurefrom the IMF, the development budget is expected to face a reductionranging between Rs 150 to Rs 200 billion.
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This development came to light during a meeting between the FederalMinister of Finance, Dr. Shamshad Akhtar, and provincial finance ministers,highlighting the challenges Pakistan faces in meeting the terms andconditions associated with the IMF bailout.
