The Federal Board of Revenue (FBR) in Pakistan recently held a meeting with representatives from the World Bank to discuss various initiatives for revenue mobilization and to review the progress of the Pakistan Raises Revenue Program (PRRP). During the meeting, both sides expressed satisfaction with the progress of the program and praised the efforts of their respective teams.
The PRRP, which is being implemented with financial assistance from the World Bank, is expected to contribute to a sustainable increase in domestic revenue by broadening the tax base. The World Bank Regional Director, Mathew Verghis, appreciated the progress made in harmonizing the Sales Tax and expressed confidence in the program’s ability to upgrade IT-based capacities of the FBR for the strengthening of tax administration.
The FBR Chairman, Asim Ahmad, praised the efforts of both teams and expressed optimism about the future of the program. He emphasized that the cooperation between the FBR and the World Bank will continue to be crucial in pursuing reforms and improving the tax system in Pakistan.
This meeting serves as a testament to the commitment of both organizations to improve the financial stability of Pakistan and to enhance its revenue mobilization efforts. The PRRP is an important step towards creating a more efficient and transparent tax system, which will benefit both the government and the citizens of Pakistan.
