Islamabad:
The federal government has granted public officials until September 2025 to declare their assets, with a digital portal ready for the process.
Meanwhile, the Federal Income Board (FBR) has informed the International Monetary Fund (IMF) of its plan to close the RS605 billion tax deficit, ensuring that a mini budget for the generation of income will not be introduced.
According to the sources, the negotiations between Pakistan and the IMF for the next section of the loan program are ongoing. IMF officials, FBR and Benazir’s income support program (BISP) participated in discussions held the previous day.
The FBR detailed its IMF tax collection strategy, reiterating that the deficit would be covered without imposing additional taxes through a mini budget.
The sources argued that both sides have agreed not to introduce a mini budget to address the income gap. Instead, RS157 billion is expected to be generated through a super tax. The cases of pending tax litigation will accelerate in the courts and the government has ensured full cooperation to resolve these cases quickly. The president of the Supreme Court has also approved a request to prioritize hearings for cases related to taxes.
The plan implies the monitoring of tax cases in the courts, and the office of the prime minister facilitates the process.
Meanwhile, the sources said the Government has established a September deadline for public officials to declare their assets, with a digital portal that will be launched for this purpose in line with the demands of the IMF.
