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Thursday, February 22, 2024  
11 Shaban 1445  

IMF team discusses establishing autonomous customs body

The ongoing talks have no link to the IMF program, sources said
File photo
File photo

Talks between the Federal Board of Revenue and the technical team of the International Monetary Fund entered their thrird round on Wednesday with proposals for a autonomous customs board under discussion.

Sources said that the IMF team visited the ministries of finance and commerce on Wednesday as well.

However, the sources clarified that the current talks have no link to the first review of the stand-by agreement that has already been agreed upon.

A key point in the discussions to with FBR was to separate the policy and operations domains of the revenue collecting body.

Similarly, a proposal to establish a separate customs division under the minsitry of finance has also been discussed which could lead to the creation of a separate Federal Board of Customs, Business Recorder reported.

According to the report, the IMF team was also told that an ‘apex body’ is needed to supervise all anti-smuggling operations in the country.

Any policy points agreed by the two sides could find their way into the next budget, earlier reports have indicated.

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