IMF’s ‘tough conditions’ hindered budget relief: Chairman FBR

ISLAMABAD: Federal Board of Revenue (FBR) Chairman Zubair Tiwana revealed that the government had planned to provide relief in the budget 2024-25 but the efforts were hindered by the International Monetary Fund’s (IMF) ‘tough conditions’, ARY News reported on Saturday.

During a meeting of the National Assembly’s Standing Committee on Finance, the FBR Chairman Zubair Towana explained that while there was a desire to offer relief, the IMF did not agree to these measures.

He highlighted the IMF’s reluctance to extend relief to the salaried class and cited a lack of trust during negotiations as a significant barrier.

The IMF’s mistrust stemmed from previous instances where reforms were not implemented in a timely manner.

Towana also mentioned that there was no intention to increase taxes on electricity bills, but the ‘tough conditions’ imposed by the IMF left no options for the government.