Pakistan – (Special Correspondent / Web Desk) – Pakistan’s economic team has met with the IMF to discuss the country’s financial health. The main topic was a significant tax collection shortfall. The government collected 11.74 trillion rupees, missing its 12.97 trillion rupee goal. Officials explained that several issues caused this gap. These include slow economic growth, the impact of major floods, and many tax cases being stuck in court.
Pakistan Presents Tax Collection Plan to IMF After Revenue Shortfall
The government also highlighted some positive news. It achieved its highest primary surplus in 24 years, showing better control over its budget. More people are also filing tax returns, which is a good sign for broadening the tax base. However, provinces did not meet their own budget surplus targets.
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The IMF is concerned about the missed targets and the risks from the pending court cases. Pakistan is now working on an alternative plan to close the revenue gap and has promised to continue with economic reforms.
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