Govt sets Sept deadline for civil servants to declare assets

FBR says no mini-budget will be introduced for revenue generation

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ISLAMABAD:

The federal government has given civil servants until September 2025 to declare their assets, with a digital portal set to be launched for the process.

Meanwhile, the Federal Board of Revenue (FBR) has informed the International Monetary Fund (IMF) of its plan to bridge the Rs605 billion tax shortfall, assuring that no mini-budget will be introduced for revenue generation.

According to sources, negotiations between Pakistan and the IMF for the next tranche of the loan programme are ongoing. Officials from the IMF, FBR, and the Benazir Income Support Program (BISP) participated in discussions held the previous day.

The FBR detailed its tax collection strategy to the IMF, reiterating that the shortfall would be covered without imposing additional taxes through a mini-budget.

Sources maintained that both the sides have agreed not to introduce a mini-budget to address the revenue gap. Instead, Rs157 billion is expected to be generated through a super tax. The pending tax litigation cases will be expedited in courts and the government has assured full cooperation in resolving these cases swiftly. The chief justice has also approved a request to prioritize hearings for tax-related cases.

The plan involves fast-tracking tax cases in courts, with the Prime Minister's Office facilitating the process.

Meanwhile, sources said that the government has set a September deadline for civil servants to declare their assets, with a digital portal to be launched for this purpose in line with IMF demands.