ISLAMABAD: The Pakistani government seems unable to fulfill a major demand included in the financial agreement made with the International Monetary Fund.
The condition of the IMF was that the four provincial governments would receive Rs 342 billion more in revenue mainly due to failure to meet the revenue target set by Punjab province during the first quarter of the financial year. .
The four provincial governments received only 160 billion rupees out of the additional collection target of 342 billion rupees, and the target was 53 percent or 182 billion rupees short.
Qamar Abbas, the spokesperson of the Ministry of Finance could not be contacted to take a stand in this regard, however, the four provincial governments have successfully fulfilled the second condition of the IMF and that was to achieve 184 billion rupees in revenues during the first quarter, that is, if If the revenue of the four governments is taken as a whole, 213 billion rupees were collected during the first quarter, which is 29 billion rupees more than the set target.
According to sources, under the agreement with the International Monetary Fund, the responsibility of the four provincial assemblies was to try to recover more than one trillion 217 billion rupees during the financial year.
It should be noted that this is the third condition of the agreement which the government of Pakistan has failed to fulfill because the federal government could not even achieve the quarterly revenue target of 2 trillion 65 billion rupees and under the new scheme introduced by the FBR. Obtaining additional 10 billion rupees from the traders remained a dream and only ten lakh rupees could be obtained.
