FBR Chairman Rashid Mahmood Langrial has said that Pakistan must get approval from the International Monetary Fund (IMF) before making any changes to tax exemptions, rates, or the overall tax system.
While giving a briefing to the Senate, he shared that the IMF has agreed to the FBR’s plan to collect an additional Rs389 billion in the fiscal year 2025-26. This target will be achieved mainly through stronger enforcement actions, rather than new taxes.
To ensure the plan is on track, Pakistan will hold weekly meetings with IMF officials. These regular discussions will focus on monitoring tax collections and making sure the FBR meets its targets.
Langrial also mentioned the issue of Real Estate Investment Trust (REIT) exemptions, which have expired. He said the matter was discussed during the meetings, and the government is trying to find a way forward that satisfies both local needs and IMF requirements.
The chairman stressed that Pakistan’s economic program is closely linked with the IMF, and any tax policy decisions must be made in consultation with them. This is part of the broader agreement Pakistan has with the IMF to ensure economic stability and continued support.
