ISLAMABAD: Member Inland Revenue Policy Dr Muhammad Iqbal has left for Dubai to take part in week long consultations with the International Monetary Fund, while Federal Board of Revenue Chairman Dr Muhammad Irshad will leave for UAE on April 2. The finance minister will join the Pakistan delegation in the final stage of consultations with the IMF. The chairman and his team will give detail briefing to the IMF officials regarding the current situation of revenue collection.
According to the FBR sources, the chairman is worried about tax collection performance. It is important to mention here that performance in taxation will be specially reviewed in the meeting while on the other hand shortfall in revenue has increased to Rs 190 billion at the end of the ninth months of the current fiscal year. The FBR team will also inform the IMF officials regarding the process of implementation of tax reforms but the facts are that the government has not performed better on the tax reforms front.
It is also important to mention that IFIs have already warned the government that delay in the implementation of tax and energy reforms could reverse the process if strict adherence to the agreed reform program was not maintained. Pakistan is expected to seek another stabilization program from IMF after holding general elections next year.
