IMF rejects Pakistan's request for tax target revision

In the backdrop of revenue shortfall during the first four months of the fiscal year, International Monetary Fund (IMF) has demanded from Pakistan to take more measures for the increase in the revenue.

Besides, the International Monetary Fund has also rejected Pakistan's request to review the tax target.

Federal Board of Revenue sources said that the government had requested the International Monetary Fund in a virtual meeting to review the tax target but the lending agency turned down the request.

They said the country can face hardship in getting the second installment of the bailout package in wake of revenue shortfall; therefore, the government can take measures to increase revenue after calculating the shortfall in the coming months.

Meanwhile, the FBR refuted the media reports in this regard, adding no such meeting took place with the International Monetary Fund.

It is regretted that some TV channels aired baseless, fabricated and fake news, claiming the IMF rejected Pakistan's request for downward revision in the tax targets, said the FBR statement.

The FBR categorically rejects the occurrence of any such meeting. It is also a fact that in any of the meetings with International Monetary Fund either virtual or other, the topic was never a part of the agenda, it added.

In a statement, FBR also requested the media to avoid disseminating such fake news which may cast negative impacts on national interest.