The interim government has assured that it will refrain from introducing “any new taxes,” successfully convincing the International Monetary Fund (IMF) mission, currently in Pakistan, to assess the nation’s economic performance.
This development follows successful negotiations between the Federal Bureau of Revenue and the IMF review mission. Pakistan, currently under a caretaker government, has been navigating economic challenges with the support of a $3 billion standby arrangement approved in July.
As part of this arrangement, Pakistan received $1.2 billion from the IMF as the first tranche. The ongoing review by the IMF mission, which began last week and is set to continue until December 15, is crucial for unlocking an additional $710 million for the country in December.
A significant breakthrough in discussions involves the caretaker government’s commitment to refrain from imposing additional taxes on the already burdened population of Pakistan.
According to ARY News, its sources stated that IMF has agreed to maintain the tax target at Rs9,415 billion. During the meetings, the revenue board presented a written plan outlining steps to achieve this target, offering assurances of its accomplishment.
