Islamabad (TDI): The Country Director Asian Development Bank (ADB) Emma Fan has called on Chairman Federal Board of Revenue (FBR) Rashid Mahmood Lagrial at FBR headquarters.
During the meeting, they discussed the progress on ADB funded projects and various other areas of mutual cooperation, said an official statement.
Chairman FBR apprised about the Transformation Plan which envisages making FBR more dynamic, modern and in line with the international standards.
The chairman said that the purpose of reforms was to maximise revenue growth while facilitating tax compliance.
Read More: Aurangzeb lauds ADB partnership with Pakistan for development
The Country Director expressed support for FBR’s initiatives and reiterated the ADB’s resolve to continue supporting the revenue mobilisation efforts in Pakistan.
Finance Minister for Finance and Revenue Muhammad Aurangzeb in recent interactions with ADB, World Bank and IMF shed light on reforms in FBR.
The international financial institutions are keen in reforms in Pakistan for economic development.
Also Read: ADB Delegation, Ahad Cheema Discuss Economic Reforms
According to a report, Pakistan is set to receive $2.75 billion in budget support from the Asian Development Bank (ADB) over the next four years, with an initial disbursement of $800 million anticipated in FY 2024-2025.
The report adds that subsequent annual funding of $650 million is expected for fiscal years 2025-26 through 2027-28.
