With Prime Minister Shehbaz Sharif directing his economic team to negotiate maximum aid in light of the nation’s tragic flood losses, Pakistan is preparing for important negotiations with the International Monetary Fund (IMF).
Authorities have stated unequivocally that no mini-budget for higher taxes is being considered.
Rashid Mahmood Langrial, the chairman of the Federal Board of Revenue (FBR), has stressed that there would not be a mini-budget or an immediate proposal to impose new taxes.
He explained that rather than imposing new taxes on residents, the government intends to use tax enforcement and compliance tactics to reach revenue targets. According to reports, the IMF will be convinced that revenue would be increased by rigorously enforcing tax policies rather than a mini-budget.
