The IMF sees a gap of over Rs300 billion between the tax target and the projected collection, the sources said. The sources said that Shaikh also made an appeal to IMF Managing Director Kristalina Georgieva last week, urging her not to link restoration of the programme with immediate additional tax measures. These two actions were prior conditions set for taking the second review to the IMF board for approval. He is said to have argued that taking drastic measures at this time may also bring bad name to the IMF. The FBR members also met with the finance secretary and conveyed their grievances to him, the sources said.

Source: The Express Tribune October 27, 2020 03:22 UTC