ISLAMABAD, Nov 10 (ABC): The World Bank (WB) Thursday expressed satisfaction over the progress of the Pakistan Raises Revenue Program (PRRP), which is aimed at broadening tax-base and domestic revenues, Federal Board of Revenue (FBR) said.
“Based on initial findings the World Bank has expressed overall satisfaction with the progress of the Project due to major reforms in simplifying tax regime, automating tax administration, expanding tax net, harmonizing GST etc,” said FBR press statement issued here.
According to press statement, a meeting was held between Chairman FBR, Asim Ahmad and Country Director World Bank to Pakistan, Najy Benhassine to review the progress of PRRP.
The board has been implementing PRRP with financial assistance from the World Bank, the statement said adding the programme was expected to contribute to a sustainable increase in domestic revenues by broadening the tax base and facilitating compliance.
The World Bank has recently concluded the Mid-Term Review of the program from October to November 2022.
Meanwhile, the Chairman FBR lauded the efforts of the teams on both sides and added that the program was going to further strengthen Information Communication Technology (ICT) based tax administration through upgrading and enhancing IT based capacities of FBR.
The FBR and World Bank agreed to keep pursuing the reforms agenda under the project with renewed vigor and focus to ensure that all the desired results are achieved.