The Federal Board of Revenue (FBR) has presented a detailed plan to the International Monetary Fund (IMF) to address the revenue shortfall and meet tax targets for January. The plan focuses enhancing efficiency in tax collection and implementing stricter enforcement measures.
Key initiatives include expediting container clearance at ports, auctioning smuggled goods, and improving enforcement to curb tax evasion. FBR also plans to target under-taxed sectors and resolve pending tax disputes in courts, which could unlock significant revenue.
EBR faces a challenging tax collection target of PKR 960 billion for January. With a PKR 385 billion shortfall from previous months, the total target for the month rises to PKR 1,340 billion. Meeting this target is critical for fulfilling IMF commitments and stabilizing the economy.
Progress on the these measures will be reviewed before the arrival of the IMF delegation, which is set to evaluate Pakistan’s economic performance. Tor bolster revenue, FBR is also exploring international trade opportunities. Bangladesh, for instance, has expressed interest in importing 15,000 metric tons of sugar from Pakistan.
Discussions on monetary policy adjustments, such as reducing interest rates, are also underway, which could stimulate economic activity and boost tax revenues.
FBR’s comprehensive approach combines administrative improvements, legal reforms, and strategic trade initiatives to address the shortfall. However, successful implementation will be crucial to achieving the ambitious January tax target and maintaining fiscal stability.
