Islamabad:

The federal government has given officials until September 2025 to declare their assets, with a digital portal to be launched for the process.

Meanwhile, the Federal Board of Revenue (FBR) has informed the International Monetary Fund (IMF) about its plan to bridge over 605 billion tax deficits, ensuring that no mini-budget will be introduced to revenue generation.

According to sources, negotiations between Pakistan and the IMF are taking place for the next tranche of the loan program. Officials from the IMF, FBR and Benazir Income Support Program (BISP) participated in discussions held the previous day.

FBR detailed its tax collection strategy to the IMF and reiterated that the deficit would be covered without imposing additional taxes through a mini-budget.

Sources maintained that both sides have agreed not to introduce a mini-budget to tackle the revenue gap. Instead, RS157 billion is expected to be generated through a super tax. The pending tax cases are accelerated in courts, and the government has insured full cooperation to resolve these cases quickly. Chief Justice has also approved a request to prioritize hearings on tax related cases.

The plan involves rapid -trapping tax cases in courts, where the Prime Minister’s office facilitates the process.

Meanwhile, sources said the government has set a deadline in September for officials to declare their assets, with a digital portal to be launched for this purpose in accordance with the IMF requirements.