PM Demands Answers on Why Pakistan Missed IMF Tax, Levy, Surplus Targets

Prime Minister Shehbaz Sharif has sought reports from the Finance Ministry and Federal Board of Revenue after Pakistan missed meeting the Rs. 12.3 trillion tax target, collecting Rs. 50 billion from traders, and generating Rs. 1.2 trillion provincial cash surpluses. The provinces delivered Rs. 921 billion in surpluses, falling short by Rs. 296 billion. The federal government blames Punjab’s development overspending, while Punjab accuses the Centre of withholding Rs. 191 billion from its June tax share and the FBR’s failure to meet revenue targets. Finance Ministry data shows Punjab’s surplus at Rs. 348 billion, 45 percent below its IMF target. Sindh missed by Rs. 16 billion, Khyber Pakhtunkhwa by Rs. 2 billion, while Balochistan exceeded its target. Punjab maintains its surplus was conditional on the FBR meeting its collection goal, which ended at Rs. 11.74 trillion, Rs. 560 billion short of the revised Rs. 12.3 trillion target.