Global lender seeks monetary tightening, elimination of circular debt flow from first year of programme

Shortfall comes amid strategic differences between Pakistan and IMF

Aims to generate Rs100b revenue of the total Rs600b tax collection target set by IMF

Finance ministry says Centre has neither reduced nor delayed funds to provinces

Technical teams are locked in negotiations for 10 days; hope to clinch deal on May 10

Of the 23 LTUs and RTOs, 14 report negative growth in collection of direct taxes

Officials cite weak monitoring, corruption as key reasons behind low receipts

Pakistan's tax-to-GDP ratio stood at 13pc of GDP – half of the potential that the World Bank has worked out

NA panel gets in-camera briefing on implementation of action plan

Stands at 4.2% of GDP as govt fails to enhance revenues to a point where it can meet growing expenses