ADB Announces $200 Million More Loan to Modernize Pakistan’s Revenue Administration

While urging the country to broaden its narrow tax base and improve tax compliance, the Asian Development Bank (ADB) has confirmed an extra $200 million loan to assist Pakistan modernize its revenue administration.

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• Speaking at a Dialogue on Tax and Fiscal Sustainability in Pakistan on Thursday, Yang remarked Pakistan had produced significant progress in restoring macroeconomic stability and strengthening economic resilience.
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• He additionally welcomed the Tax Policy Office, saying it could backing evidence based policymaking and a fairer tax system with fewer exemptions and lower compliance costs.

ADB Vice President for South, Central and West Asia Yingming Yang remarked the bank's Transforming and Digitalising Revenue Administration Project is anticipated to be considered by its board this year.

For context, the project will backing the Federal Board of Revenue's transformation agenda through investment in digital infrastructure, modern tax and customs systems, advanced data analytics, artificial intelligence based compliance tools, stronger cybersecurity and institutional development.

Speaking at a Dialogue on Tax and Fiscal Sustainability in Pakistan on Thursday, Yang remarked Pakistan had produced significant progress in restoring macroeconomic stability and strengthening economic resilience. He remarked the next stage of reforms would depend on the country's ability to mobilize domestic resources more efficiently and fairly.

Yang remarked Pakistan's tax reform agenda was gaining momentum, with the Prime Minister's FBR Transformation Plan and new tax operating model providing a foundation for a more modern and technology driven revenue system focused on taxpayers.

He remarked successful implementation could improve tax compliance, taxpayer services and the apply of integrated data while reducing discretionary interventions. A more risk based approach could additionally assist the FBR improve revenue collection. Every Fertilizer Company's Urea Sales Fell in August-Except One.

As higher collections would provide the administration more room to invest in residents, infrastructure and public services while strengthening economic resilience and reducing reliance on debt and external financing, the ADB official remarked stronger domestic revenue should not be viewed only as a fiscal target.

While highlighting the ADB's efforts to broaden the tax base, improve tax policy and strengthen public financial management, he identified Pakistan's narrow tax base, widespread informality and low compliance as key challenges.

He additionally welcomed the Tax Policy Office, saying it could backing evidence based policymaking and a fairer tax system with fewer exemptions and lower compliance costs. Stay Connected with ProPakistani.

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