ISLAMABAD According to The News, the finance ministry admitted that it had fallen short of three goals set forth in the $7 billion Extended Fund Facility (EFF), including the indicative objective of the Federal Board of Revenue’s (FBR) first-quarter revenue collection and the allotments for health and education.
Additionally, provincial governments failed to update their agriculture income tax laws by the October 2024 deadline, as was mandated by the program.
The National Assembly Standing Committee on Finance received a thorough presentation from the federal finance secretary outlining the International Monetary Fund’s (IMF) quantitative performance standards and structural benchmarks.
The committee was advised that in order to completely conform to the federal personal income tax system, each province has to modify its agriculture income tax laws and policies.
