Pakistan “devises” a different strategy to deal with the revenue deficit.

According to specifics, Prime Minister Shehbaz Sharif has rejected a plan to further raise taxes on the salaried class, thus Rashid Langrial, the chairman of the Federal Board of Revenue (FBR), has devised a different plan to overcome the revenue deficit.

To discuss ways to increase tax income, the head of the FBR is expected to hold important talks today.

Retailers’ Scheme, the Track and Trace system, and FBR’s Transformation Plan will all be discussed. The sources added that the Retailers’ Scheme will permit registered dealers to share data with the IMF as part of the Transformation Plan, which intends to update the FBR’s structure to conform to international standards.

FBR was supposed to collect PKR 17 billion in taxes from dealers between July and October, but sources say that goal was not met.

In addition to an examination to expand the system to the tile sector, the Track and Trace system is scheduled for installation review throughout five sectors.

The FBR charge on POS receipts would be increased by Rs1 as part of the proposed adjustments. Special audits for retailers without point-of-sale systems will also be discussed with the IMF. The mission will receive a briefing from FBR regarding its enforcement strategy to close the revenue gap.

For loan negotiations, a delegation from the International Monetary Fund (IMF) is in Pakistan.

The IMF delegation will discuss with pertinent ministries and assess Pakistan’s economic performance, according to sources in the Ministry of Finance.