First round of talks between IMF and FBR begin

MG News | February 04, 2020 at 11:54 AM GMT+05:00

0:00

February 4, 2020 (MLN): The talks between the Federal Board of Revenue (FBR) and International Monetary Fund (IMF) have commenced, following the latter’s arrival in Pakistan yesterday.

Officials from FBR informed IMF about how the tax target of Rs. 5,238 billion couldn’t be achieved, and that the total collection by end of ongoing fiscal year might touch Rs. 4,800 billion.

To reduce the revenue shortfall, the FBR might propose to soften the price of imported goods and increase the level of imported goods altogether.

According to official sources, FBR might bring in mini budget to cope with the revenue shortfall of Rs. 350 billion, lest other measures fail to achieve the objective.

One of the members from FBR, Mr. Hamid Ateeq shall brief the IMF about FBR’s strategy.

FBR may also propose to reduce the revenue collection by Rs. 350 billion to bring it to an achievable level.

The technical team of IMF shall hold talks on second quarter collection targets

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	152,740.38 147.44M	-1.01% -1551.88
ALLSHR	91,858.47 324.25M	-0.86% -800.10
KSE30	46,223.61 86.89M	-1.45% -681.25
KMI30	219,130.92 66.08M	-1.15% -2553.50
KMIALLSHR	59,625.28 139.61M	-0.93% -562.17
BKTi	42,104.46 39.09M	-2.02% -866.56
OGTi	32,077.87 10.13M	-1.27% -414.19

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	70,155.00	71,480.00 69,440.00	-205.00 -0.29%
BRENT CRUDE	109.55	113.11 105.05	0.90 0.83%
RICHARDS BAY COAL MONTHLY	99.40	0.00 0.00	-12.60 -11.25%
ROTTERDAM COAL MONTHLY	123.30	0.00 0.00	0.00 0.00%
USD RBD PALM OLEIN	1,083.50	1,083.50 1,083.50	0.00 0.00%
CRUDE OIL - WTI	98.09	98.75 92.47	2.54 2.66%
SUGAR #11 WORLD	15.63	15.72 15.27	0.26 1.69%