Some measures for revenue generation are inevitable to bridge the gap on fiscal side in the present circumstances. Official sources told reporters on the conclusion of 26th annual general meeting and conference of the Pakistan Institute of Development Economics (PIDE) here on Tuesday that the government has taken some measures for revenue generation during 2010-11.
Officials said: "We have to remain under the IMF Stand-By Arrangement (SBA) facility for which the government has to show improvement in revenue collection and broadening the tax base". They said: "Keeping in view higher fiscal deficit, we have to take some measures to repair damages." However, they did not disclose the methodology for withdrawal of exemptions or introducing additional revenue generation measures.
When asked about the growing political resistance against proposed 'reformed general sales tax' (RGST), sources said that the government was working on all fronts to develop consensus on the RGST. However, a few revenue generation measures are inevitable. Whenever the RGST will be approved by the government, it would be subsequently enforced, officials said.
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