IMF demands mini-budget as FBR fails to collect tax targets

Islamabad: The International Monetary Fund (IMF) demanded Pakistan to bring a mini-budget as former remained fail in collecting the tax despite bringing more people into the tax net.

According to reports, IMF in a virtual meeting with the Federal Board of Revenue (FBR) pointed out the shortfall in the tax collection targets promised by the government prior to the Extended Fund Facility (EFF) worth $7 billion finalised between the IMF and the government of Pakistan.

During meeting, FBR requested for reviewing tax targets which was rejected by IMF, said the sources. “A mini-budget worth Rs500 billion could be announced by the government whereas an ordinance of the FBR Enforcement worth Rs60 billion can also be passed.”

Prime Minister Shehbaz Sharif has also sought performance report from the FBR chairman.

On the other hand, the FBR has also undergone a shakeup. Mir Badshah has been removed from the position of In-land Revenue Operations whereas Tariq Arbab has been turfed out as legal member. Hamid Atiq Khan has been appointed as member In-land Revenue Operations. In addition Najeeb Ahmad Memon has been replaced as member In-land Revenue Policy.

According to sources, the latest organizational shakeup has been done soon after Rashid Mehmood Langrial took the charge as FBR chairman.