Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langriel has said that no mini -budget is being considered as Pakistan is preparing for the next visit to the International Monetary Fund (IMF) mission. He was talking informally with journalists, discussing the government’s economic status.
Lingal, Lingal made it clear that no proposal for additional taxes was being reviewed through the mini -budget. He added that the government has examined various powers to overcome the recent flood damage, but no decision has been made on changes in the annual tariff target.
According to sources in the finance ministry, the government had previously discovered the possibility of flooding, but now it is focused on persuading the IMF to accept measures to increase revenue by strict taxpayers instead of imposing fresh taxes.
Prime Minister Shahbaz Sharif has directed the officials to get maximum relief from the IMF during the review talks. Sources said that Pakistan will try to get concessions for flood -hit populations, which includes relief in electricity bills in September and relaxation of agricultural loans.
The Ministry of Finance has also intended to write a letter on the IMF on tax revenue, reduction of FBR reserves, and potentially down on the country’s growth target. Officials are expected to discuss the gentleness to avoid imposing new taxes.