The Federal Board of Revenue (FBR) is preparing to seek guidance from the IMF on Pakistan’s revenue performance. Prime Minister Shehbaz Sharif has instructed that no new taxes be introduced until June 30.
Officials said the FBR will seek discussions with the IMF focusing on tax data from July to January. Revenue performance will be reviewed in light of inflation and economic growth trends.
The government is also planning to revise the annual tax target downward, from Rs13,979 billion to Rs13,879 billion. The IMF will be briefed on additional revenue collected through the super tax decision.
Between July and January, the FBR collected Rs7,147 billion against a target of Rs7,521 billion. This resulted in a shortfall of Rs372 billion. Officials emphasized that the upcoming talks with the IMF aim to address this gap while maintaining fiscal stability.
A special session will examine tax collection relative to GDP growth and inflation. Officials expect super tax revenue to reach Rs217 billion in the current fiscal year.
The government also hopes increased consumer spending ahead of Eid will boost sales tax collection. Sources said these factors will be highlighted during the IMF discussions.
Prime Minister Sharif has directed the FBR to meet its revenue targets without introducing new levies or presenting a mini-budget. This approach aims to maintain economic stability while seeking advice from the IMF on realistic revenue goals.
Analysts say the talks with the IMF are crucial to align Pakistan’s fiscal strategy with international expectations. The government plans to present clear data on tax collection, economic growth, and inflation during these consultations.
The FBR’s efforts reflect a cautious approach to revenue collection. Officials hope that by maintaining current policies and seeking IMF guidance, Pakistan can close the revenue gap while supporting economic growth.
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