IMF appreciates healthy economy growth by Pakistan

ISLAMABAD, Dec 11 (APP):The International Monetary Fund (IMF) Monday appreciated the healthy economic growth shown by Pakistan and acknowledged the growth in revenue collections.
According to press statement issued by Federal Board of Revenue, a delegation of Post Programme Monitoring Mission of International Monetary Fund, led by Harold Finger, met with Haroon Akhtar Khan Special Assistant to PM Revenue here and held detailed and fruitful discussion on different aspects of Pakistan’s economy, its growth and FBR’s contribution towards it.
Finger lauded the efforts of the government, appreciating the healthy economic growth shown by Pakistan, the statement added.
Finger was appreciative of the momentum that was built last year and which has continued in this financial year also as indicated by sustained economic growth, it said adding that the delegate specifically acknowledged the growth in revenue shown
by FBR.
Finger recognized that such growth was remarkable as last year FBR had experienced revenue dip due to the tax
concessions offered in agricultural package, zero rating of inputs of five export oriented sectors and the government’s decision
of not passing on the effect of increase in POL prices.
Haroon Akhtar pointed out the numerous policies as well as operational initiatives taken by FBR to create deterrence
against tax evasion and avoidance.
In this regard Finger appreciated FBR’s role in introducing legislation such as Benami Act, its Anti-Smuggling and Anti
Money Laundering operations.
He appreciated the increase in number of tax filers and further emphasized the need to optimally utilize available third
party data for bringing more people in the tax net.
He also stressed the need to make concerted effort to take on policy issues to plug leakages and create more avenues
for revenue collection.
He highlighted the simultaneous need for taxpayer facilitation, building trust and creation of tax culture along with revenue generating measures.
He also pointed out the need to create coordination of Federal and Provincial revenue authorities and to harmonize
processes.