FBR refutes statements on economic team-IMF talks, says process ongoing    

KARACHI: Federal Board of Revenue (FBR) spokesman on Wednesday denied giving any inputs to media regarding the ongoing talks between the government’s economic team with the International Monetary Fund (IMF) delegation visiting Pakistan, ARY NEWS reported.

According to the spokesman, the talks between the two sides are ongoing for the release of the third tranche of the US$ 6 billion bailout package.

“The FBR has given no statement to media on the ongoing talks,” he said and rejected the statements run by media outlets quoting FBR officials.

On Tuesday, the first round of talks between International Monetary Fund (IMF) and Federal Board of Revenue (FBR) begin as proposals for mini-budget and lowering down of the revenue targets would be mulled over during the meeting.

According to the FBR sources, the tax-collection body’ officials would convey to the IMF authorities that the country could not achieve the tax target of Rs 5238 billion.

“They will be asked to lower down the tax collection targets for the ongoing fiscal year by Rs 350 billion as the country could not collect taxes beyond Rs 4800 billion,” the sources said adding that during technical talks between the two sides, Member Policy FBR Hamid Ateeq Sarwar along with other officials would brief the fund over these matters.

The meeting would mull over the revenue collected during the last quarter. “Non-taxed income will also come under discussion during the meeting,” they said adding that it might be possible to lower prices of import items as it could improve imports, easing down pressure on the revenue collection shortfall.