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The International Monetary Fund (IMF) has requested Pakistan to provide a plan for ‘improved tax’ collection from the real estate and agricultural sectors, thus expecting Pakistan to present a mini-budget.
Pakistan likely introduce mini budget: In preparation for the second review of the $3 billion Stand-By-Arrangement (SBA), the foreign lender has requested a strategy for improved tax collection.
According to sources with knowledge of the situation, the IMF is pressuring Pakistan to improve tax collection from the real estate and agricultural sectors after boosting the tax ratio.
According to sources, the next administration will make the decision on whether to impose taxes on the real estate and agricultural industries. In case the Federal Board of Revenue (FBR) approves the IMF proposal, there is a likelihood of implementing a mini-budget.
The International Monetary Fund (IMF) is also putting pressure on provinces to become more “active” in order to increase agricultural sector tax revenue.
Pakistan received the first installment of $1.2 billion for the SBA program from the International Monetary Fund on Thursday.
Dar stated that he would disclose the remaining $1.8 billion after conducting two reviews, while also confirming the arrangement of making two installments.
Following the signature of the staff-level agreement last month, the International Monetary Fund (IMF) authorised a $3 billion loan for Pakistan on Wednesday night.