Govt Tells IMF: US-Iran Conflict Cost Pakistan Rs. 144 Billion in Tax Revenue
The federal government has told the visiting International Monetary Fund review mission that the US-Iran conflict and disruption in the … Read More The post Govt Tells IMF: US-Iran Conflict Cost Pakistan Rs. 144 Billion in Tax Revenue appeared first on ProPakistani .
Pakistan's federal government informed the International Monetary Fund (IMF) that the ongoing US-Iran conflict and its impact on the Strait of Hormuz resulted in an estimated loss of Rs. 144 billion in tax revenue for the first quarter of the current fiscal year. Officials attributed the revenue decline to the conflict-induced rise in fuel prices and reduced economic activity, which adversely affected tax collections, particularly sales tax and withholding tax gathered at the import stage.
The government briefed the IMF about the economic repercussions of the conflict, highlighting the increased fuel costs and weaker economic activity in Pakistan. Despite the revenue setback, the Federal Board of Revenue pledged to fulfill its target of collecting Rs. 3.053 trillion by September 30. The IMF review team continued its assessment of the conflict's economic implications, working in tandem with Pakistan's fiscal and revenue performance during their current evaluation.
Written by urgent.news from ProPakistani's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
