Failure in tax targets, IMF calls for mini-budget to meet shortfall

Islamabad: Due to the failure to meet tax targets, the International Monetary Fund (IMF) demanded to bring a mini-budget to meet the shortfall.

According to Federal Bureau of Revenue (FBR) sources, the IMF rejected its request for revision of tax targets during virtual talks and the shortfall may lead to difficulties in the second tranche.

Sources stated that a mini-budget of Rs500 billion can be made by estimating the shortfall of the coming months, while an ordinance can also be brought for FBR enforcement of Rs60 billion. However, Prime Minister Shehbaz Sharif also asked for the performance report from Chairman FBR.

18 officers including four board members of FBR have been sacked to achieve tax targets. Mir Badshah has been removed from Inland Revenue Operations, and Tariq Arbab as Member Legal. Member Inland Revenue Policy Hamid Atiq Sarwar has been appointed Member Inland Revenue Operations.

FBR sources said that preparations for the removal of Mir Badshah Khan were made at the time of the appointment of Rashid Mehmood Langriyal. Najeeb Ahmed Memon has been appointed Member Inland Revenue Policy in place of Hamid Atiq Sarwar.