From July to December, Pakistan “faces” a revenue shortage of Rs385 billion.

According to specifics, the IMF has suggested implementing a mini-budget to close the shortfall. The Prime Minister, according to reports, has rejected this plan and directed the Federal Board of Revenue (FBR) to find other ways to make up the difference.

The sources claimed that in order to improve revenue collection without imposing additional taxes on the populace, the FBR has previously presented the IMF with a thorough alternative plan.

The proposal calls for prioritizing the prompt clearance of containers and cargoes that are stranded at ports in order to increase tax and tariff collections. Additionally, in order to raise additional funds, seized illegal products will be swiftly put up for auction under emergency protocols.

According to the sources, efforts are also being stepped up to increase revenue collection from undertaxed sectors and strengthen enforcement powers against tax evaders. In order to speed up the settlement of tax-related disputes, court cases will be resolved in order of priority.

Before the IMF mission arrives in Pakistan, these steps are anticipated to be put into place, according to sources within the Federal Board of Revenue (FBR). Achieving the tax collection goal of Rs960 billion in January is a difficult assignment for the FBR.

By March, the alternate strategy, which aims to compensate for the revenue loss, should be fully implemented.