World Bank to help raise country's tax-to-GDP ratio.

ISLAMABAD -- The World Bank's (WB) loan of $400 million for FBR will target raising the tax-to-GDP ratio to 17 percent by financial year 2023-24 and widening the tax net from the current 1.2 million to at least 3.5 million active taxpayers.

A World Bank team led by Vice-President for Equitable Growth, Finance and Institutions (EFI) Ceyla Pazarbasioglu on Wednesday informed Finance Adviser Hafeez Shaikh that the under-consideration project will assist in simplifying the tax regime and strengthening tax and customs administration.

Dr Abdul Hafeez Shaikh said that Pakistan valued the financial and technical support provided by the World Bank for the institutional reforms and...