ISLAMABAD: The International Monetary Fund (IMF) has demanded Pakistan to introduce a mini-budget after the Federal Board of Revenue (FBR) failed to achieve its tax targets.
According to sources, the FBR’s failure to meet its tax targets has resulted in a major shortfall, that may led to difficulties in the second installment of the loan.
Sources revealed that the IMF has also expressed its concerns over the FBR’s inability to meet its tax targets, whereas the mini-budget is seen as a necessary step to address the revenue shortfall.
The government is expected to introduce a mini-budget worth around PKR 500 billion to address the revenue shortfall, sources added.
The FBR’s failure to meet its tax targets has also led to a shake-up in the organization, with several high-ranking officials being replaced. (With input from INP)
