Pakistan and IMF have agreed to revise downward the annual tax collection target of FBR by PKR 246Bn, from PKR 4.96Tn to PKR 4.72Tn for FY21 in order to revive the stalled extended fund facility (EFF) program. FBR has so far collected PKR 2.92Tn during 8MFY21 and would have to collect PKR 1.8Tn during the next four months (PKR 450Bn per month) to materialize its downward revised target. IMF and Pakistan have also agreed to fix next budget’s FBR target at PKR 6Tn, a gigantic task.
6/3/2021