Islamabad: (RightNow) Proposals for new taxes have been prepared to make Islamabad an autonomous unit. According to sources, these taxes aim to generate revenue for basic facilities and administrative infrastructure.

Under the initial proposals, the taxes will be spent on Islamabad’s hospitals, schools, and other institutions. These proposals will be discussed with the IMF delegation during the upcoming economic review and may be included in the next fiscal year’s budget.

Sources indicate that the final estimate for tax collection is yet to be determined. Negotiations for the fifth review with the IMF will begin this month, focusing on creating financial capacity.

The proposals prepared by the FBR will be presented to a sub-committee. After approval, they will be submitted to the Planning Minister’s committee and then finalized with the Prime Minister and IMF’s approval.

It is noteworthy that successful negotiations between Pakistan and the IMF could result in Pakistan receiving $1.2 billion. The aim of these negotiations is to establish a new system for the use of local taxes and resource allocation.