Pakistan met IMF’s December tax target despite challenges: PM Shehbaz

PM said protests tried to derail the economy, but we succeeded in improving the financial landscape.

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Prime Minister Shehbaz Sharif asserted on Wednesday that despite persistent political unrest and protests aimed at destabilising the government, Pakistan has managed to achieve economic stability and to meet its fiscal targets.

Addressing the federal cabinet, the prime minister said, “Protests tried to derail the economy, but we succeeded in improving the financial landscape.”

He highlighted that the Federal Board of Revenue (FBR) achieved 97% of its December tax collection target, meeting commitments made to the International Monetary Fund (IMF).

The PM praised officials for their efforts in mobilising resources, noting a significant contribution of Rs72 billion from Alternate Dispute Resolution (ADR) measures. “Despite a substantial gap between targets and collections, the FBR leadership deserves appreciation,” he remarked.

PM Shehbaz also commended measures to digitise Karachi Port operations through a $6 million grant from the Bill Gates Foundation, which reduced container processing time by 39%. This initiative, he said, has expedited trade and improved transparency.

On smuggling control, the PM stated that efforts by federal institutions and the military had effectively curbed the illicit flow of sugar and petroleum across borders, enabling the country to export surplus sugar. “This success is a testament to coordinated governance,” he added.

Highlighting remittance inflows, the premier shared that Pakistan received $15 billion in the first five months of the fiscal year. If the trend continues, remittances could surpass $35 billion, setting a national record.

Amid these achievements, the PM expressed concern over the resurgence of terrorism. He attributed the rise to the Afghan government’s release of militants, many of whom had infiltrated Pakistan.

“Our security forces are making daily sacrifices to combat this threat,” he said, calling for vigilance and resilience.

PM Shehbaz concluded by emphasising his government’s transparency and integrity. “Nine months of governance have passed, and there has not been a single scandal. The public stands witness to our commitment to clean administration,” he said.

While acknowledging the challenges, the PM urged all stakeholders to unite for the country’s prosperity in the new year.