$125.9 million World Bank grant: tax officials to leave for Washington next week

A high-level delegation of tax officials would leave for Washington in the first week of next month to negotiate $125.9 million grant with the World Bank (WB) for 'tax administration reform project'. Under the programme, the Pakistani economic managers would hold negotiations with the World Bank officials in Washington on October 5-6.
The government of Pakistan would be represented by Economic Affairs Division Secretary Waqar Masood Khan. The delegation included CBR Chairman Abdullah Yusuf and Tax Policy and Reforms Member and CBR Spokesman M.S. Lal.
Official sources told Business Recorder here on Tuesday that the World Bank has invited government of Pakistan to US for negotiating total grant of $125.9 million, including proposed IDA credit of $102.9 million, and a UK DFID grant of $23 million for the 'tax administration reform project'.
During the negotiations with the Wold Bank, both sides will discuss the agreement on the Project Appraisal Document (PAD) and the Development Credit Agreement (DCA).
The World Bank and the Pakistani delegation would discuss the following agreements:
Implementation arrangements, including procurement, financial management, and disbursement arrangements; key project performance and monitoring and evaluation indicators, and co-financing arrangements.
Officials said that the objective of the project is to improve the integrity and fairness of tax administration by improving organisational efficiency and effectiveness of the revenue administration.
The project aims at promoting compliance through strengthened audit and enforcement capacity and transparent as well as high quality tax services.
The project will also focus on improving trade facilitation through modern and internationally acceptable customs procedure.